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    Categories: Your Queries

Q.What amount of Home loan deductions can be claimed for FY 2016-17 ?

Ans.The deduction for home loan can be claimed under 3 different sections as follows :

Section Amount of DeductionDeduction Available on
which amount
80 CMaximum Rs.150000Principal repayment of Home loan
24Maximum Rs.200000(For Self Occupied House Property)
No limit- For not self occupied house
Interest on Home loan
80EEMaximum Rs.50000 (For first time home buyers)Interest on Home Loan provided the loan is sanctioned between 1.4.16 to 31.3.17

For further details regarding Home loans you can refer Home loans-Facts to know !

Harleen Kaur: A Chartered Accountant with 14+ years of experience in the Corporate world. A Finance & technology (a fintech) enthusiast, a passionate financial blogger, Founder @ Fintrakk.com and a Finance FAQ Portal. In short, a CA, a Bachelor of Commerce whose very foundation has been learning about finance. I am actively contributing towards the financial literacy goal through my business ventures and spreading awareness in the dynamic field of finance, investment, stock market, money savings, career and a lot more. Reading, learning & sharing interesting information, this is what I enjoy!! I have researched and written hundreds of blogs on Indian financial topics! Now, expanding my blogging horizon towards Personal Finance in Canada, and USA as well.
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