Income Tax Housing Loan

Under this an individual is entitled to tax deduction on the amount paid as repayment of the principal component on the housing loan.

Income tax housing loan. Popular search home loan tax exemption interest on housing loan deduction for ay 2019 20 housing loan interest deduction for ay 2019 20 interest on housing loan deduction for ay 2019 20 housing loan interest deduction for ay 2019 20 section 24 of income tax act. While a housing loan can help you get a house for yourself it. Even more so after the announcements made during the latest financial budget 2020. Deduction under section 80c.

Tax benefits for home loans remain unchanged though the timeline for availing loans for affordable housing has been extended for a year till 31 march 2021. 1 deduction for interest paid on housing loan a home loan must be taken for the purchase construction of a house and the construction of the house must be completed within 5 years from the end of financial year in which loan was taken. Taking a home loan can help you save tax as per the provisions of the income tax act 1961.