Home Loan

> >

ITR for Home Loan

Quick apply

Just 60 seconds to apply

Enter your first and last name
Enter your 10-digit mobile number
Enter your pin code

I authorize Bajaj Finserv representative to call /SMS towards this application and other products/services. This consent overrides my registration for DNC/NDNC. T&C

Enter net monthly salary
Enter date of birth
Enter PAN
Select employer name from the list
Enter personal email address
Enter official email address
Enter current monthly obligations
Enter net monthly salary
Enter annual turnover (18-19)

Thank you

How much is the ITR required for home loans?

The ITR required for home loan varies based on the home loan eligibility criteria of the lender. If your income tax returns have to be filed, you should know about the deductions that you stand to get. This will include home loan tax benefits, both on the principal amount and the interest amount which is influenced by the home loan interest rate.

You should keep the following in mind:

  • Deductions up to Rs. 200,000 are allowed for interest repaid annually under Section 24.
  • The whole interest repaid can be claimed as a deduction on the property which is let-out subject to a maximum of Rs. 200,000 for a particular tax year.
  • The principal amount repaid can be claimed for deductions up to Rs. 1,50,000 under Section 80C.
  • Deductions can be claimed on registration fees and stamp duty under Section 80C subject to a maximum of Rs. 1,50,000 as the deduction from the taxpayer.
  • Deductions for first-time homebuyers under Section 80EE up to Rs. 50,000 in case certain conditions are fulfilled.

Also Read: Know the Income Tax Benefit on Home Loan
 

People Also Considered

Home Loan eligibility calculator

Determine your Home Loan eligibility and accordingly plan the application amount

CALCULATE NOW

Home Loan EMI calculator

Calculate your monthly EMI, installments and rate of interest applied on the loan amount

CALCULATE NOW

Homes and Loans

Find your dream home from
18000 + properties

Explore More

Home Loan Balance Transfer

Get a top-up loan without any extra documentation

APPLY NOW