Home Loan Tax Benefit Calculator
Calculate total income tax benefit on your home loan — Section 80C deduction on principal repayment (₹1.5L) and Section 24(b) deduction on interest (₹2L for self-occupied).
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How to use this calculator
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Section 80C: Principal repayment deduction up to ₹1,50,000 per year (shared with all 80C investments).
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Section 24(b): Interest deduction up to ₹2,00,000 for self-occupied; no cap for rented property.
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Both deductions are available only under the old tax regime.
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Change the "Loan year" to see how deductions shift as you repay (early years = more interest = higher Sec 24b benefit).
Frequently asked questions
Can I claim both 80C and Section 24b on the same home loan?
Yes. You can claim both — Section 80C for principal repayment (up to ₹1.5L, clubbed with other 80C investments) and Section 24(b) for interest (up to ₹2L for self-occupied). Together, a ₹30% slab taxpayer can save up to ₹1,05,000 per year in tax (assuming full utilization of both limits). Both are available only under the old regime.
What is the home loan interest deduction for rented property?
For rented property, Section 24(b) allows the ENTIRE home loan interest as deduction — there is no ₹2L cap. However, if this creates a loss under house property income, you can only set off ₹2L per year against other income (e.g., salary). The remaining loss is carried forward for 8 years.
Home Loan Tax Benefit Calculator India — Section 80C + Section 24b Deduction
Maximum tax benefit possible on a home loan
For a self-occupied property under the old regime: Section 80C (principal) = ₹1.5L + Section 24(b) (interest) = ₹2L = Total ₹3.5L deduction. For a 30% slab taxpayer with 4% cess, this saves ₹1,09,200 per year. In early years of a large loan, the interest component is high so Sec 24(b) is most valuable.
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Results are estimates for informational purposes only and do not constitute professional financial, medical, legal, or technical advice. Read full disclaimer →