How much tax is deducted for home loans more than 25 lacs ?

POSTED BY gurudasan ON September 15, 2013 2:51 pm COMMENTS (2)

Hi,

I read in the internet saying in the last budget, it was announced that for home loans <=25L, tax exemption would be 3.5 L (2.5L on interest + 1L on principal)

Against home loans of >25L, tax exemption would be 2.5 L (1.5L on interest + 1L on principal repay)

But when I check with most of my friends, they are unaware

Can somebody shed some light on this part ?

2 replies on this article “How much tax is deducted for home loans more than 25 lacs ?”

  1. ashalanshu says:

    Dear Gurudasan, just to add in dear Manish’s reply, this extra benefit is for current Fy only & there is no surely that next year also you ‘ll get the same benefit.

    thanks

    Ashal

  2. Yes, what you said is true . But the cost of house should be less than 40 lacs for this condition to be true. !

    Manish

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