Mortgage Loan Interest Deduction

Tax Glossary Definition

Mortgage Loan Interest Deduction

A tax benefit available under Section 24(b) of the Income Tax Act for interest payments made on housing loans availed for purchasing, constructing, or repairing a residential property. Example: Interest of up to ₹2 lakh on a self-occupied home loan can be claimed as a deduction under Section 24(b).

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