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Showing posts from February, 2023

Know How to Incur Tax Benefits Through Home Loans

  Home sweet home – more or fewer everyone dreams of owning a house. But, in most cases, we don’t have enough wealth or funds to satisfy our dream. In that case, a home loan is one of the easiest ways to buy a home. When a home loan helps you to fulfill your dream, it also helps you to save a certain amount of money in paying taxes. So, today, we are going to learn how you can earn income tax benefits through your home loan. If you want to know more about income tax benefits on your home loan, you can consult CA Chandan Agarwal & Co. in Kolkata undoubtedly. Avail Tax Benefits from Home Loans According to the Income Tax Act, of 1961, the Indian government provides an array of benefits to candidates who buy a home with a loan. The tax benefit varies within sections. Let us know in detail. Section Laws: 1.     Section 80C: You can get the maximum home loan tax exemption under section 80C is Rs. 150000/- in a fiscal year. According to the section, you can claim the tax deduct