Home loan tax benefits under the old and new regimes
Section 24(b), 80C and 80EEA — and what survives if you have moved to the new tax regime.
5 min read
What you need to know
Under the old regime, interest on a self-occupied property is deductible up to ₹2 lakh a year under Section 24(b), and principal repayment counts within the ₹1.5 lakh limit of Section 80C along with stamp duty and registration paid in the year of purchase.
Under the new regime, the Section 24(b) deduction on a self-occupied property and the 80C benefit are not available. Interest on a let-out property, however, remains deductible against rental income in both regimes — a distinction many borrowers miss.
Continue your research
Use this guide alongside our product details and eligibility criteria before choosing a lender.
Key points and practical checks
- Section 24(b): up to ₹2 lakh interest on self-occupied property (old regime)
- Section 80C: up to ₹1.5 lakh principal, stamp duty and registration
- Section 80EE / 80EEA: additional interest benefit for eligible first-time buyers
- Let-out property: full interest deductible, set-off capped at ₹2 lakh per year
Frequently asked questions
What is the main takeaway from “Home loan tax benefits under the old and new regimes”?
Section 24(b), 80C and 80EEA — and what survives if you have moved to the new tax regime.
What should I check before acting on this tax & compliance guide?
Start with these checks: Section 24(b): up to ₹2 lakh interest on self-occupied property (old regime); Section 80C: up to ₹1.5 lakh principal, stamp duty and registration; Section 80EE / 80EEA: additional interest benefit for eligible first-time buyers. Your final eligibility, pricing and approval still depend on the lender’s assessment.
Can the information in this guide guarantee loan approval?
No. It is general educational information. A bank or NBFC makes the final decision after checking your credit profile, repayment capacity, documents and the applicable product policy.
How can iFINTRUST help after I read this guide?
An iFINTRUST advisor can review your requirement, explain the documents normally requested and help you compare suitable lending options before you apply.