Home Loan Tax Benefit Calculator — Section 24B + 80C

Your Loan Details

Loan Amount (Lakhs) Interest Rate (%) Loan Tenure (Years) Annual Income (Lakhs) Your Tax Slab Joint Home Loan?

Joint loan benefit: If both co-borrowers are co-owners, each can claim Section 24B (Rs 2L each) and Section 80C (Rs 1.5L each) separately — doubling the total tax benefit.

Your Tax Benefit Breakdown

Your EMI

Monthly EMI

Before tax benefit

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Year 1 Breakdown

Interest Paid (Year 1)

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Principal Paid (Year 1)

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Tax Deductions

Section 24B (Interest)

Max Rs 2L per borrower

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Section 80C (Principal)

Max Rs 1.5L per borrower

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Total Deduction

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Annual Tax Saved

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Rs — saved per month

Effective Monthly EMI (after tax)

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Full EMI Calculator →

Key Tax Rules to Know

Section 24B — Rs 2 Lakh Limit

Interest paid on home loan is deductible up to Rs 2L per year for self-occupied property. No limit for let-out property.

Section 80C — Rs 1.5 Lakh Limit

Principal repayment is deductible under 80C (shared with other 80C investments like ELSS, PF, LIC).

Section 80EE — Extra Rs 50,000

First-time buyers whose loan is under Rs 35L and property value under Rs 50L get an additional Rs 50,000 deduction.

Joint Loan — Double the Benefit

Both co-borrowers can claim independently — Rs 4L total on interest and Rs 3L total on principal in one financial year.

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Home Loan Tax Benefit Calculator.

Your Loan Details

Key Tax Rules to Know

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