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Home > Forum > Kochi > Home Loan > Can I get tax benefit on a home loan?

Can I get tax benefit on a home loan?

Q: I am all set to take a home loan from a bank. I just wanted to confirm whether I am eligible to get tax benefit on it.

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Hi Ayesha, under the Income Tax Act, 1961, you are eligible to get the tax benefit. The tax benefits will be based on the principal and interest components of the loan. But, make sure to check the current tax benefits available, as it varies each year.
Srinivas


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