Home Loan Guide7 min read• 26 June 2026

Home Loan Tax Benefits Guide: Section 24 & 80C

Published by PropertyCRM Home Financing DeskCalculate EMI Now →

Key Financial Takeaways

•Section 24(b): Deduction up to ₹2,000,000 on home loan interest for self-occupied properties.
•Section 80C: Deduction up to ₹1,500,000 on principal repayment and stamp duty.
•Joint Home Loans: Both co-borrowers who are co-owners can claim separate full tax deductions (up to ₹7 Lakhs total combined).

1. Income Tax Act Provisions

Home loans offer substantial annual tax savings under the Old Tax Regime for Indian income tax filers.

Yes, if both are joint owners of the property and co-applicants paying EMIs, each can claim up to ₹2 Lakhs on interest and ₹1.5 Lakhs on principal.

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