If you think home loan can only turn your dream home into reality then we will give you one more reason to avail this loan option. Home loan now has double benefits. Under section 22 to 27 by Income tax act, “Income from residence property” is a separate head which allows you tax deduction for the interest you pay for the money borrowed. For a self occupied property, the maximum deduction is Rs 30,000 per annum. The only condition to be eligible for a tax deduction is that you have borrowed the capital after April 1, 1999, to get maximum of Rs. 1.50 deduction.

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