Shreyaa Kapoor Instagram – Did you know you can get upto 10 lakhs in deductions if you have a home loan liability! 🙌🏼
Apart from the obvious 80C and 24(B) benefits – did you know that if you are a first time home buyer you can also claim deductions under section 80EEA.🙏🏼
Here are the conditions you should know about:
-The loan should be sanctioned during the period 1st April 2019 and 31st March 2022.
-Stamp duty value of the house property should be Rs 45 lakh or less.
Now all these benefits will potentially double if you apply for a joint home loan!🫶🏼
In a joint home loan, since each co-applicant is eligible individually for the above deduction, the collective tax benefits are much higher than in the case of a single applicant loan. 🙌🏼
The actual amount of tax benefit enjoyed by each co-applicant is in proportion to their contribution in repayment of principal and interest!🌱
If you learnt something new, make sure you share this with someone who has an ongoing home loan! 🫡
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[home loan, loan tips, personal finance, home loan, tax tips, tax saving, saving hack, tax, taxes, home loan saving] | Posted on 09/Mar/2024 20:00:05
