Home Loan Tax Benefit Calculator

Calculate your tax savings on home loan. Get detailed breakdown of benefits under Section 80C (principal) and 24(b) (interest), plus additional benefits for first-time buyers.

Important: Home loan tax benefits (Sec 80C, 24b) apply only under OLD tax regime. New regime does not allow these deductions.

Loan Details (Annual)

Principal Repaid This Year (Rs)

Interest Paid This Year (Rs)

Total Loan Amount (Rs)

Property Value (Rs)

Property Type

Your Tax Slab (%)

Additional Options

First-time home buyer

Affordable housing (stamp value ≤ Rs 45L)

Under-construction property

Pre-Construction Interest (Rs)

Your Ownership Share (%)

Calculating your tax benefits...

Tax Benefits on Home Loan

80C

Principal Repayment

Up to Rs 1.5 lakh deduction on principal repaid. Combined with other 80C investments.

24(b)

Interest Payment

Up to Rs 2 lakh for self-occupied. No limit for let-out property.

80EE

First-Time Buyers

Additional Rs 50,000 for first home (loan ≤ Rs 35L, property ≤ Rs 50L).

Frequently Asked Questions

Can I claim home loan benefits in New Tax Regime?

No. Home loan benefits (80C principal, 24(b) interest for self-occupied) are not available in the New Tax Regime. Only let-out property interest can be claimed.

What if I have a joint home loan?

Both co-borrowers can claim deductions proportionate to their ownership share. This effectively doubles your benefits - each can claim up to Rs 1.5L (80C) and Rs 2L (24b).

What about under-construction property?

Pre-construction interest can be claimed in 5 equal installments starting from the year of completion, in addition to regular interest.