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Home Loan Tax Benefit Calculator

Section 24(b), 80C, 80EEA — calculate all tax savings on your home loan

⚠️ Home loan deductions (Sec 24b, 80C, 80EEA) are available only under the Old Tax Regime. Not available in New Regime. If you have a home loan, old regime is likely better.
Loan Details
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Self-occupied: max ₹2L interest deduction under Sec 24(b)
Tax Profile
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Your marginal tax rate for savings calculation
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Used to calculate available 80C headroom for principal
Additional Benefits
Loan sanctioned before Mar 2022 + property value ≤ ₹45L — extra ₹1.5L deduction
Each co-owner can independently claim full deductions

Home Loan Tax Benefits — Complete Guide

Section 24(b)
Up to ₹2 Lakh

Interest on home loan for self-occupied property. Unlimited deduction for let-out property (set off against rental income). Old regime only. Construction must complete within 5 years.

Section 80C
Within ₹1.5 Lakh

Principal repayment portion of EMI. Included in overall 80C limit of ₹1.5L (shared with PPF, ELSS, LIC). Available from the year construction completes. Old regime only.

Section 80EEA
Additional ₹1.5 Lakh

Extra interest deduction for first-time buyers. Loan sanctioned between Apr 2019–Mar 2022. Stamp duty value ≤ ₹45L. No other residential property. Total benefit: ₹3.5L/yr on interest.

Joint Loan
Double Benefits

Both co-borrowers (co-owners) can independently claim all deductions. Each can claim ₹2L under 24(b) and ₹1.5L under 80C. Combined annual deduction: up to ₹7L for a couple.

Under Construction
Pre-EMI Interest

Interest paid during construction (pre-EMI period) can be claimed in 5 equal instalments starting from the year possession is taken. Deductible under Section 24(b).

New vs Old Regime
Old Regime Only

All home loan deductions (24b, 80C, 80EEA) are ONLY available in the old tax regime. If you have a home loan, always compare both regimes — the old regime may save significantly more.