Buying a home is a major milestone—and often one of the biggest financial commitments. While a home loan is a long-term debt, it comes with multiple tax benefits that can ease the financial burden.

A home loan has two components:

• Principal
• Interest

You can claim deductions on both under different sections of the Income Tax Act:

• Section 80C: Deduction on the principal repayment of the home loan (up to ₹1.5 lakh per year).
• Section 24(b): Deduction on the interest paid (up to ₹2 lakh per year) under Income from House Property.
• Section 80EE & 80EEA: Additional benefits for first-time homebuyers, subject to certain conditions.
  

Web
Mobile
Web
Steps to Claim Deduction for Home Loan    

1. Navigate to File > Deductions
   
2. Select Section 80CCE card
   
3. Enter the principal amount paid during the year under Section 80C




Mobile
Steps to Claim Deduction for Home Loan    

1. Navigate to 
   File > Deductions
   
   
   
2. Select Section 80CCE 
   card
   
   
   
3. Enter the principal amount paid during the year under Section 80C