What is Section 80C Of The Income Tax Act? Section 80C of the Income Tax Act, 1961 allows eligible taxpayers to claim a tax deduction of up to ???1.5 lakh per financial year on specified investments and expenses under the old regime in the Income Tax Act.?? Section 80C is most commonly preferred to reduce […]

What Are the Tax Benefits of a Home Loan??? The Home Loan Tax Benefits You Can Claim While Filing ITR are: Principal Repayment Deduction Under Section 80C Principal Repayment is claimed under Section 80C, which has an overall deduction limit of ???1.5 lakh. Interest Payment Deduction Under Section 24(b) ?? Interest Payment is claimed under […]

Old vs New Tax Regime – Understanding the Basics If you have opted for a home loan, picking the right tax regime is something you should not skip. The two tax regimes work very differently and understanding the basics about the Old vs New Tax Regime can help you make the right decision so that […]

Which Tax Deductions Are Available During And After Construction? Tax benefits on under-construction property may include different tax deductions. It depends on the stage of the construction. Once the property is purchased, the home loan interest can be deducted under section 24(b) of the Income Tax Act, 1961, while the principal repayment can be deducted […]