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Learn how to maximize your savings with tax deductions on home loan interest under section 24(b). Learn eligibility, limits, documents required, and expert. Find out the conditions for claiming interest on home loan.
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Learn when to claim deductions with a detailed explanation and an illustrative example. Section 24 (b) of the income tax act, 1961 (hereinafter referred as the it act) allows deduction of interest. The amount for principal repayment was included in the total amount for emi payment.
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Discover limits and conditions for indian taxpayers!
Section 24 (b) of the income tax act allows deductions on this interest component. However, you cannot claim these deductions immediately after paying the interest. Learn how to claim up to ₹2 lakh deduction under section 24(b) for home loan interest, including let‑out property, co‑ownership, pre‑construction rules, and itr filing tips. A comprehensive guide to claiming deductions under section 24(b) of the income tax act for home loan interest in india.
