Home Loan Tax Benefit Calculator

For a self-occupied property under the Old Regime, interest deduction is capped at ₹2,00,000 per year. There is no cap for a let-out property, though the overall loss you can set off against other income is limited to ₹2,00,000 per year.

Yes. Principal repayment qualifies under Section 80C (within the overall ₹1,50,000 limit) and interest qualifies separately under Section 24(b) — both under the Old Regime.

Interest deduction under Section 24(b) for a self-occupied home is generally not available under the New Regime. For a let-out property, interest can still be deducted against rental income, but the resulting loss cannot be set off against other income heads.

Section 80EEA previously allowed first-time buyers an additional interest deduction on affordable-housing loans sanctioned within a specified window, on top of the Section 24(b) limit. Check whether your loan's sanction date falls within an eligible period before assuming you qualify.