Running a property is actually all individual’s dream. To remind residents to invest in a house, the government will bring various tax advantages into the financial in Income tax Operate regarding 1961 (the money Income tax Act). It is vital to look for most of the mortgage taxation pros as you possibly can help save you a tremendous amount of taxation costs.

A mortgage comprises each other principal payment and desire payments. Income tax write-offs is availed below these two groups under Section 80C and you will Section 24(b) of Taxation Work respectively. Read more