Housing loan Interest exemption on actual interest paid for housing loan?

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1

Hi,

Is it possible to get housing loan Interest exemption on actual interest paid for housing loan? Or limited to just 2 Lakhs?

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Hi @Anushree

There are multiple criteria and subsections where the limit can be extended beyond 2 Lakhs,

One such section is 80EEA

To avail tax benefit under this section, certain conditions have to be fulfilled which are as follows:

  • Housing loan must be taken from a financial institution such as a bank or a housing finance company for buying a residential house property.
  • The home loan must be taken between April 1, 2021 and March 31, 2022.
  • Stamp duty value of the house property should not exceed Rs 45 lakhs
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Hi Anushree

Exemption is limited to 2 lacs for Self Occupied Property.
For Let out property no limit.

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