Home Loan Tax Benefits: New Tax Regime vs. Old Tax Regime Explained
Maharashtra
N
News18•27-01-2026, 11:28
Home Loan Tax Benefits: New Tax Regime vs. Old Tax Regime Explained
- •Affordable homes are decreasing as developers prioritize luxury projects due to higher profit margins (25-30% vs. 10-12%).
- •Many families face high home loan EMIs, sometimes up to 60% of income; financial assessment is crucial before buying.
- •Home loan eligibility depends on monthly income, existing EMIs, expenses, and CIBIL score.
- •The new tax regime, with tax exemption up to 12 lakh rupees, offers fewer home loan tax benefits compared to the old regime.
- •Under Section 24(b), tax benefits on home loan interest for self-occupied homes are not available in the new tax regime; for rented homes, deduction is limited to rental income.
Why It Matters: Carefully assess financial capacity and understand tax implications, especially under the new tax regime, before taking a home loan.
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