{"id":509,"date":"2025-08-09T13:25:51","date_gmt":"2025-08-09T07:55:51","guid":{"rendered":"https:\/\/www.caclubindia.com\/guide\/?p=509"},"modified":"2025-08-09T13:25:54","modified_gmt":"2025-08-09T07:55:54","slug":"home-loan-tax-benefits","status":"publish","type":"post","link":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/","title":{"rendered":"Home Loan Tax Benefits FY 2024-25: Maximize Your Savings"},"content":{"rendered":"\n<p>In India, home loans provide substantial tax advantages as outlined in the Income Tax Act of 1961. These incentives aim to motivate individuals to invest in real estate by lowering their taxable income. Below is a summary of the main tax benefits associated with home loans:<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\r\n<div class=\"ez-toc-title-container\">\r\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\r\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\r\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Deduction_on_Interest_Payment\" >Deduction on Interest Payment<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Eligibility_Criteria\" >Eligibility Criteria<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Deduction_Limits\" >Deduction Limits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Time_Frame_for_Deductions\" >Time Frame for Deductions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Additional_Deductions\" >Additional Deductions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Documentation\" >Documentation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Important_Notes\" >Important Notes<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Deduction_on_Principal_Repayment\" >Deduction on Principal Repayment<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Eligibility_Criteria-2\" >Eligibility Criteria<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Deduction_Limits-2\" >Deduction Limits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Conditions\" >Conditions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Time_Frame_for_Deductions-2\" >Time Frame for Deductions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Documentation-2\" >Documentation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Important_Notes-2\" >Important Notes<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Deduction_for_First-Time_Home_Buyers\" >Deduction for First-Time Home Buyers<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Section_80EE\" >Section 80EE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Section_80EEA\" >Section 80EEA<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Tax_Advantages_of_Joint_Home_Loans\" >Tax Advantages of Joint Home Loans<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Higher_Deduction_Limits_on_Interest_Payments\" >Higher Deduction Limits on Interest Payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Principal_Repayment_Deductions\" >Principal Repayment Deductions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Increased_Eligibility_for_Loan_Amount\" >Increased Eligibility for Loan Amount<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Impact_under_New_Old_Tax_Regime\" >Impact under New &amp; Old Tax Regime<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Benefits_under_New_Tax_Regime\" >Benefits under New Tax Regime<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#Benefits_under_Old_Tax_Regime\" >Benefits under Old Tax Regime<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\r\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Deduction_on_Interest_Payment\"><\/span>Deduction on Interest Payment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Section 24(b) of the Income Tax Act in India provides for the deduction of interest on loans taken to buy, construct, or repair a residential property. Here are the key points regarding this provision:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Eligibility_Criteria\"><\/span>Eligibility Criteria<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Loan Purpose: <\/strong>The loan must be taken for the purchase, construction, renovation, or repair of a residential property.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Ownership: <\/strong>The taxpayer must own the property for which the loan is taken.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Deduction_Limits\"><\/span>Deduction Limits<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Self-Occupied Property:<\/strong> If the property is self-occupied, the maximum deduction allowed on interest payment under Section 24(b) is \u20b92,00,000 per financial year.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Let-Out Property:<\/strong> For a property that is let out, there is no limit on the deduction of interest. All interest paid can be claimed as a deduction against rental income.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>If the property is both self-occupied and let out:<\/strong> If a taxpayer has one self-occupied property and another that is let out, the interest deduction limits and rules can apply differently based on the specific circumstances.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Time_Frame_for_Deductions\"><\/span>Time Frame for Deductions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The deduction can be claimed for interest paid during the financial year, regardless of whether the loan was fully paid off or only partially serviced.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Additional_Deductions\"><\/span>Additional Deductions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>If the loan is taken for construction, the interest paid during the construction period can also be claimed. However, this is capped at \u20b92,00,000 in total, including the interest accrued during the construction phase.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documentation\"><\/span>Documentation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Taxpayers are required to maintain proper documentation (like the loan agreement, payment receipts, etc.) to substantiate their claims for the deduction.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_Notes\"><\/span>Important Notes<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The interest deduction is available only if the taxpayer fulfils the conditions outlined in the Income Tax Act and properly reports their income and expenses.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This deduction can significantly reduce the taxable income of a taxpayer, leading to potential tax savings.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Deduction_on_Principal_Repayment\"><\/span>Deduction on Principal Repayment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Under the Income Tax Act in India, taxpayers can claim a deduction on the repayment of the principal amount of a home loan under Section 80C. Here are the key details regarding this deduction:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Eligibility_Criteria-2\"><\/span>Eligibility Criteria<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Loan Purpose: <\/strong>The loan must be taken for the purchase, construction, or renovation of a residential property.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Ownership: <\/strong>The taxpayer must have ownership or be in possession of the property for which the loan has been taken.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Deduction_Limits-2\"><\/span>Deduction Limits<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The maximum deduction allowed under Section 80C for principal repayment is \u20b91,50,000 in a financial year.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This limit is inclusive of other deductions that fall under Section 80C, such as investments in the Public Provident Fund (PPF), National Savings Certificates (NSC), tax-saving fixed deposits, etc.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conditions\"><\/span>Conditions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>To avail of this deduction, the property should not be sold within five years of possession. If sold before this period, the deduction claimed in the earlier years will be reversed in the year of sale.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Time_Frame_for_Deductions-2\"><\/span>Time Frame for Deductions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The deduction can be claimed for the principal amount repaid during the financial year.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documentation-2\"><\/span>Documentation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Taxpayers must maintain proper documentation (like the loan statement, payment receipts, etc.) to substantiate their claims for deduction on principal repayment.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_Notes-2\"><\/span>Important Notes<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The principal repayment deduction under Section 80C is available only if the loan is taken for residential property.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Taxpayers should verify all conditions and ensure compliance with the rules laid out in the Income Tax Act to claim this deduction effectively.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Deduction_for_First-Time_Home_Buyers\"><\/span>Deduction for First-Time Home Buyers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In India, first-time homebuyers can avail of additional tax benefits under the Income Tax Act, particularly through Section 80EE and Section 80EEA. Here are the details regarding these deductions:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Section_80EE\"><\/span>Section 80EE<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Eligibility &#8211; <\/strong>This section applies to individuals who are first-time homebuyers. A first-time homebuyer is defined as someone who does not own any residential property on the date of sanction of the loan.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Deduction Amount &#8211;<\/strong> A maximum deduction of \u20b950,000 on the interest paid on home loans can be claimed under this section.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Loan Amount &#8211; <\/strong>The loan taken must not exceed \u20b935 lakhs, and the property should not exceed \u20b950 lakhs in value.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Time Frame &#8211; <\/strong>The loan must be sanctioned in the financial year (FY) 2016-17 or thereafter. The deduction can be claimed for interest paid during the financial year.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Section_80EEA\"><\/span>Section 80EEA<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Eligibility <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The deduction is available only to individuals who are first-time homebuyers. This means that the taxpayer should not own any residential property on the date of loan sanction. <\/li>\n\n\n\n<li>The eligibility is restricted to individuals, not Hindu Undivided Families (HUF) or other entities.<\/li>\n<\/ul>\n\n\n\n<p><strong>Deduction Amount &#8211;<\/strong> Under Section 80EEA, individuals can claim a deduction of up to \u20b91,50,000 on the interest paid on home loans during the financial year.<\/p>\n\n\n\n<p><strong>Loan and Property Criteria <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The loan must be taken from a financial institution or a housing finance company. <\/li>\n\n\n\n<li>The stamp duty value of the residential property should not exceed \u20b945 lakhs.<\/li>\n<\/ul>\n\n\n\n<p><strong>Time Period for Loan Sanction &#8211; <\/strong>The property loan must be sanctioned between April 1, 2019, and March 31, 2022.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_Advantages_of_Joint_Home_Loans\"><\/span>Tax Advantages of Joint Home Loans<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Taking a joint home loan can offer several tax advantages, which can make homebuying more financially appealing. Here are the key tax benefits of joint home loans:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Higher_Deduction_Limits_on_Interest_Payments\"><\/span>Higher Deduction Limits on Interest Payments<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When a home loan is taken jointly, both borrowers can claim tax deductions for the interest paid. Under Section 24(b) of the Income Tax Act, each borrower can claim up to \u20b92 lakh per annum on the interest component of the home loan, provided the property is self-occupied. <\/p>\n\n\n\n<p>Therefore, if two individuals (such as spouses or siblings) are co-borrowers, they can collectively claim a deduction of up to \u20b94 lakh.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Principal_Repayment_Deductions\"><\/span>Principal Repayment Deductions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Under Section 80C, both borrowers can also claim a deduction up to \u20b91.5 lakh each on the principal repayment of the home loan. This means that collectively, the couple can claim up to \u20b93 lakh, assuming both are eligible and have paid the principal amount.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Increased_Eligibility_for_Loan_Amount\"><\/span>Increased Eligibility for Loan Amount<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Since both incomes are taken into account when applying for a home loan, the combined income can increase the overall loan eligibility. This could allow the purchase of a property that might otherwise be unaffordable if a single income were considered.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Impact_under_New_Old_Tax_Regime\"><\/span>Impact under New &amp; Old Tax Regime<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Under New Tax Regime<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Under Old Tax Regime<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">By default if you are falling under new tax regime for FY 2024-25 then, there is no tax benefit when you are taking home loan for a self occupied house property.<\/td><td class=\"has-text-align-center\" data-align=\"center\">When loan is taken for the purchase or construction of house, then it must be completed within 5 years.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_under_New_Tax_Regime\"><\/span>Benefits under New Tax Regime<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Only in rented house property (let out), interest deduction is allowed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_under_Old_Tax_Regime\"><\/span>Benefits under Old Tax Regime<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Section 24<\/strong>  &#8211; You can claim deduction on interest paid up to Rs. 2 lakh in a year. [It can be claim for self occupied property and no limit on the interest for let out property]<\/p>\n\n\n\n<p><strong>Section 80C &#8211;<\/strong> The maximum limit to claim deduction u\/s 80C is Rs. 1.5 lakh which includes home loan principal, stamp duty, insurance premium, PF contribution etc.<\/p>\n\n\n\n<p><strong>Section 80EE &#8211; <\/strong>An additional deduction on interest up to Rs. 50,000 can be claim u\/s 80EE.<\/p>\n\n\n\n<p><strong>Section 80EEA &#8211;<\/strong> An additional deduction on interest apart from section 24 can be claim in section 80EEA. The limit is up to Rs. 1.5 lakh. <\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.caclubindia.com\/guide\/income-from-house-property\/\">Click here<\/a> to know about Income from House Property &amp; Taxes<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1723551099258\"><strong class=\"schema-faq-question\">Can I claim tax benefit on second home loan?<\/strong> <p class=\"schema-faq-answer\">Yes, you can claim tax benefit on only for second self occupied home loan property.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1723551111810\"><strong class=\"schema-faq-question\">Can I claim both 80C and section 24?<\/strong> <p class=\"schema-faq-answer\">Yes, you can claim both the benefits.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1723551122826\"><strong class=\"schema-faq-question\">What is the maximum deduction for home loan interest?<\/strong> <p class=\"schema-faq-answer\">Under section 24 of the Income Tax Act,  a deduction can be claim on home loan interest upto \u20b92 lakh. However, if the house construction is not completed within 5 years, the deduction is limited to \u20b930,000.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>In India, home loans provide substantial tax advantages as outlined in the Income Tax Act of 1961. These incentives aim [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":511,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>Home Loan Tax Benefits FY 2024-25: Maximize Your Savings - Tax Guide<\/title>\r\n<meta name=\"description\" content=\"Home loan tax benefits helps to reduce taxable income, making home loans more tax-efficient way to finance property purchases.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Home Loan Tax Benefits FY 2024-25: Maximize Your Savings - Tax Guide\" \/>\r\n<meta property=\"og:description\" content=\"Home loan tax benefits helps to reduce taxable income, making home loans more tax-efficient way to finance property purchases.\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Tax Guide\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/caclubindia\" \/>\r\n<meta property=\"article:published_time\" content=\"2025-08-09T07:55:51+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2025-08-09T07:55:54+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/home-loan-tax-benefits-1.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\r\n\t<meta property=\"og:image:height\" content=\"630\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"Chaitra Seetharam\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@caclubindia\" \/>\r\n<meta name=\"twitter:site\" content=\"@caclubindia\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chaitra Seetharam\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/\"},\"author\":{\"name\":\"Chaitra Seetharam\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#\\\/schema\\\/person\\\/abe1f226c9415785edf10b4313c9cacb\"},\"headline\":\"Home Loan Tax Benefits FY 2024-25: Maximize Your Savings\",\"datePublished\":\"2025-08-09T07:55:51+00:00\",\"dateModified\":\"2025-08-09T07:55:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/\"},\"wordCount\":1316,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/home-loan-tax-benefits-1.jpg\",\"articleSection\":[\"Income Tax\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#respond\"]}]},{\"@type\":[\"WebPage\",\"FAQPage\"],\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/\",\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/\",\"name\":\"Home Loan Tax Benefits FY 2024-25: Maximize Your Savings - Tax Guide\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/home-loan-tax-benefits-1.jpg\",\"datePublished\":\"2025-08-09T07:55:51+00:00\",\"dateModified\":\"2025-08-09T07:55:54+00:00\",\"description\":\"Home loan tax benefits helps to reduce taxable income, making home loans more tax-efficient way to finance property purchases.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#breadcrumb\"},\"mainEntity\":[{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#faq-question-1723551099258\"},{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#faq-question-1723551111810\"},{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#faq-question-1723551122826\"}],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/home-loan-tax-benefits-1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/home-loan-tax-benefits-1.jpg\",\"width\":1200,\"height\":630},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Home Loan Tax Benefits FY 2024-25: Maximize Your Savings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#website\",\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/\",\"name\":\"Tax Guide\",\"description\":\"All tax related info news and updates in one place.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#organization\",\"name\":\"CAclubindia\",\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cropped-icon-384x384-1.png\",\"contentUrl\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cropped-icon-384x384-1.png\",\"width\":512,\"height\":512,\"caption\":\"CAclubindia\"},\"image\":{\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/caclubindia\",\"https:\\\/\\\/x.com\\\/caclubindia\",\"https:\\\/\\\/www.instagram.com\\\/caclubindia\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/caclubindia\\\/\",\"https:\\\/\\\/www.youtube.com\\\/caclubindia?sub_confirmation=1\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/#\\\/schema\\\/person\\\/abe1f226c9415785edf10b4313c9cacb\",\"name\":\"Chaitra Seetharam\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/78b5101dc51a6bdf622917fe10dddf6a0eeb09d7280a1bc4eee34515a53d5a85?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/78b5101dc51a6bdf622917fe10dddf6a0eeb09d7280a1bc4eee34515a53d5a85?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/78b5101dc51a6bdf622917fe10dddf6a0eeb09d7280a1bc4eee34515a53d5a85?s=96&d=mm&r=g\",\"caption\":\"Chaitra Seetharam\"},\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/author\\\/chaitra-s\\\/\"},{\"@type\":\"Question\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#faq-question-1723551099258\",\"position\":1,\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#faq-question-1723551099258\",\"name\":\"Can I claim tax benefit on second home loan?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Yes, you can claim tax benefit on only for second self occupied home loan property.\",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"},{\"@type\":\"Question\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#faq-question-1723551111810\",\"position\":2,\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#faq-question-1723551111810\",\"name\":\"Can I claim both 80C and section 24?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Yes, you can claim both the benefits.\",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"},{\"@type\":\"Question\",\"@id\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#faq-question-1723551122826\",\"position\":3,\"url\":\"https:\\\/\\\/www.caclubindia.com\\\/guide\\\/home-loan-tax-benefits\\\/#faq-question-1723551122826\",\"name\":\"What is the maximum deduction for home loan interest?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Under section 24 of the Income Tax Act,  a deduction can be claim on home loan interest upto \u20b92 lakh. However, if the house construction is not completed within 5 years, the deduction is limited to \u20b930,000.\",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Home Loan Tax Benefits FY 2024-25: Maximize Your Savings - Tax Guide","description":"Home loan tax benefits helps to reduce taxable income, making home loans more tax-efficient way to finance property purchases.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/","og_locale":"en_US","og_type":"article","og_title":"Home Loan Tax Benefits FY 2024-25: Maximize Your Savings - Tax Guide","og_description":"Home loan tax benefits helps to reduce taxable income, making home loans more tax-efficient way to finance property purchases.","og_url":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/","og_site_name":"Tax Guide","article_publisher":"https:\/\/www.facebook.com\/caclubindia","article_published_time":"2025-08-09T07:55:51+00:00","article_modified_time":"2025-08-09T07:55:54+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/home-loan-tax-benefits-1.jpg","type":"image\/jpeg"}],"author":"Chaitra Seetharam","twitter_card":"summary_large_image","twitter_creator":"@caclubindia","twitter_site":"@caclubindia","twitter_misc":{"Written by":"Chaitra Seetharam","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#article","isPartOf":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/"},"author":{"name":"Chaitra Seetharam","@id":"https:\/\/www.caclubindia.com\/guide\/#\/schema\/person\/abe1f226c9415785edf10b4313c9cacb"},"headline":"Home Loan Tax Benefits FY 2024-25: Maximize Your Savings","datePublished":"2025-08-09T07:55:51+00:00","dateModified":"2025-08-09T07:55:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/"},"wordCount":1316,"commentCount":0,"publisher":{"@id":"https:\/\/www.caclubindia.com\/guide\/#organization"},"image":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#primaryimage"},"thumbnailUrl":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/home-loan-tax-benefits-1.jpg","articleSection":["Income Tax"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#respond"]}]},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/","url":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/","name":"Home Loan Tax Benefits FY 2024-25: Maximize Your Savings - Tax Guide","isPartOf":{"@id":"https:\/\/www.caclubindia.com\/guide\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#primaryimage"},"image":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#primaryimage"},"thumbnailUrl":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/home-loan-tax-benefits-1.jpg","datePublished":"2025-08-09T07:55:51+00:00","dateModified":"2025-08-09T07:55:54+00:00","description":"Home loan tax benefits helps to reduce taxable income, making home loans more tax-efficient way to finance property purchases.","breadcrumb":{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#faq-question-1723551099258"},{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#faq-question-1723551111810"},{"@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#faq-question-1723551122826"}],"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#primaryimage","url":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/home-loan-tax-benefits-1.jpg","contentUrl":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/home-loan-tax-benefits-1.jpg","width":1200,"height":630},{"@type":"BreadcrumbList","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.caclubindia.com\/guide\/"},{"@type":"ListItem","position":2,"name":"Home Loan Tax Benefits FY 2024-25: Maximize Your Savings"}]},{"@type":"WebSite","@id":"https:\/\/www.caclubindia.com\/guide\/#website","url":"https:\/\/www.caclubindia.com\/guide\/","name":"Tax Guide","description":"All tax related info news and updates in one place.","publisher":{"@id":"https:\/\/www.caclubindia.com\/guide\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.caclubindia.com\/guide\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.caclubindia.com\/guide\/#organization","name":"CAclubindia","url":"https:\/\/www.caclubindia.com\/guide\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.caclubindia.com\/guide\/#\/schema\/logo\/image\/","url":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/cropped-icon-384x384-1.png","contentUrl":"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/cropped-icon-384x384-1.png","width":512,"height":512,"caption":"CAclubindia"},"image":{"@id":"https:\/\/www.caclubindia.com\/guide\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/caclubindia","https:\/\/x.com\/caclubindia","https:\/\/www.instagram.com\/caclubindia\/","https:\/\/www.linkedin.com\/company\/caclubindia\/","https:\/\/www.youtube.com\/caclubindia?sub_confirmation=1"]},{"@type":"Person","@id":"https:\/\/www.caclubindia.com\/guide\/#\/schema\/person\/abe1f226c9415785edf10b4313c9cacb","name":"Chaitra Seetharam","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/78b5101dc51a6bdf622917fe10dddf6a0eeb09d7280a1bc4eee34515a53d5a85?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/78b5101dc51a6bdf622917fe10dddf6a0eeb09d7280a1bc4eee34515a53d5a85?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/78b5101dc51a6bdf622917fe10dddf6a0eeb09d7280a1bc4eee34515a53d5a85?s=96&d=mm&r=g","caption":"Chaitra Seetharam"},"url":"https:\/\/www.caclubindia.com\/guide\/author\/chaitra-s\/"},{"@type":"Question","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#faq-question-1723551099258","position":1,"url":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#faq-question-1723551099258","name":"Can I claim tax benefit on second home loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, you can claim tax benefit on only for second self occupied home loan property.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#faq-question-1723551111810","position":2,"url":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#faq-question-1723551111810","name":"Can I claim both 80C and section 24?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, you can claim both the benefits.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#faq-question-1723551122826","position":3,"url":"https:\/\/www.caclubindia.com\/guide\/home-loan-tax-benefits\/#faq-question-1723551122826","name":"What is the maximum deduction for home loan interest?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Under section 24 of the Income Tax Act,  a deduction can be claim on home loan interest upto \u20b92 lakh. However, if the house construction is not completed within 5 years, the deduction is limited to \u20b930,000.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/posts\/509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/comments?post=509"}],"version-history":[{"count":11,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/posts\/509\/revisions"}],"predecessor-version":[{"id":2633,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/posts\/509\/revisions\/2633"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/media\/511"}],"wp:attachment":[{"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/media?parent=509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/categories?post=509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caclubindia.com\/guide\/wp-json\/wp\/v2\/tags?post=509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}