Home Loan Tax Benefits Calculator
Calculate tax benefits and deductions available on home loan interest and principal. Maximize your tax savings with Section 80C and 24(b) deductions.
Calculator
Calculator Details
Enter your information to calculate results
Results
₹89,853
Annual Tax Savings
3.52%
Effective Interest Rate
Annual Tax Deductions
Section 80C (Principal):₹99,511
Maximum deduction: ₹1,50,000
Section 24(b) (Interest):₹2,00,000
Maximum deduction: ₹2,00,000
Total Deduction:₹2,99,511
Tax Savings (30%):₹89,853
Loan Summary
Monthly EMI:₹43,391
Annual EMI:₹5,20,694
Annual Principal:₹99,511
Annual Interest:₹4,21,182
How It Works
How Home Loan Tax Benefits Work
1
Section 80C Deduction
Deduction on principal repayment up to ₹1.5 lakh per year
2
Section 24(b) Deduction
Deduction on interest payment up to ₹2 lakh per year
3
First-time Buyer Benefit
Additional ₹50,000 deduction on interest for first 5 years
Examples
Example 1: Regular Home Buyer
Annual Income:₹12,00,000
Tax Slab:30%
Section 80C:₹1,50,000
Section 24(b):₹2,00,000
Annual Tax Savings:₹1,05,000
Example 2: First-time Buyer
Annual Income:₹12,00,000
Tax Slab:30%
Section 80C:₹1,50,000
Section 24(b):₹2,50,000
Annual Tax Savings:₹1,20,000
Compare
Tax Slab Impact on Savings
| Tax Slab | Income Range | Max Deduction | Tax Savings | Effective Rate |
|---|---|---|---|---|
| 5% | ₹2.5L - ₹5L | ₹3,50,000 | ₹17,500 | 8.15% |
| 20% | ₹5L - ₹10L | ₹3,50,000 | ₹70,000 | 7.22% |
| 30% | Above ₹10L | ₹3,50,000 | ₹1,05,000 | 6.29% |
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