How to do maximum Tax saving on Home loan interest ?

POSTED BY raju ON February 26, 2014 2:56 pm COMMENTS (3)

Hi All,

I wanted to know maximum tax savings on Home loan interest in a financial year for a salaried employee.

Is it beneficial if we buy house in non-residence city? Pls let me know for any other tax saving options of Home loan.

Regrds,

Raju

3 replies on this article “How to do maximum Tax saving on Home loan interest ?”

  1. ashalanshu says:

    Dear Raju, I think you are asking for more than 150000 Rs. interest claim. Well if your house is on rent and you are showing rental income, the 150000 Rs. limit is not there and full interest is available for tax benefit. Now this does not mean that your house should be in a non residence city. You can purchase and put on rent in Hyderabad itself.

    Thanks

    Ashal

  2. ashalanshu says:

    Dear Raju, can you explain your query as i’m unable to understand it.

    Thanks

    Ashal

    1. raju says:

      Hi Ashal ,
      Thanks for response. I wanted to know the maximum tax benefit (Eligibility for tax exemption) with Home Loan including principal and Interest. Any additional tax savings if I purchase house in non-living city. I am resident of Hyderabad,If I take house any other town what are the advantages and disadvantages?

      Regards,
      Raju

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