| Applicable If |
 You have taken a Home Loan from any bank |
| Conditions |
The house should be in your kids, spouses or your own name. |
| Max Deductions |
Only principle repayment can be exempt
Tax deduction on the interest component comes under section 24 and will depend upon whether home is rented or self occupied.
|
| Limitations |
Over a period of time the principle payment increase and the interest payment decrease. |
