{
    "name": "Home Loan Tax Benefit Calculator",
    "url": "https://calculators.geekmidst.com/calculators/india-home-loan-tax-benefit-calculator",
    "markdown": "https://calculators.geekmidst.com/calculators/india-home-loan-tax-benefit-calculator.md",
    "category": "India tax & investing",
    "description": "Work out the home-loan interest and principal deductions for a self-occupied house in FY 2025-26 and the tax they save at your slab rate.",
    "summary": "Under the old regime, interest on a loan for a self-occupied home is deductible up to ₹2 lakh and principal repayment counts towards the ₹1.5 lakh 80C limit. The new regime allows neither.",
    "also_called": [
        "Housing loan tax benefit calculator",
        "Section 24(b) calculator"
    ],
    "applies_to": "India",
    "last_updated": "2026-10-29",
    "computation": "Results are computed in the visitor’s browser on the HTML page. This API describes the calculator; it does not compute results.",
    "inputs": [
        {
            "name": "regime",
            "label": "Tax regime",
            "type": "segmented",
            "default": "old",
            "options": {
                "old": "Old",
                "new": "New"
            }
        },
        {
            "name": "loan_type",
            "label": "Loan for",
            "type": "select",
            "default": "purchase",
            "options": {
                "purchase": "Buying or building, borrowed on or after 1 April 1999",
                "repair": "Repairs, or borrowed before 1 April 1999"
            }
        },
        {
            "name": "interest",
            "label": "Interest paid in the year",
            "type": "number",
            "default": "250000"
        },
        {
            "name": "principal",
            "label": "Principal repaid in the year",
            "type": "number",
            "default": "100000",
            "optional": true
        },
        {
            "name": "other_80c",
            "label": "Other 80C investments (PF, ELSS, PPF…)",
            "type": "number",
            "default": "80000",
            "optional": true
        },
        {
            "name": "slab",
            "label": "Your highest slab rate",
            "type": "select",
            "default": "30",
            "options": {
                "0": "0%",
                "5": "5%",
                "20": "20%",
                "30": "30%"
            }
        },
        {
            "name": "currency",
            "label": "Currency",
            "type": "hidden",
            "default": "INR"
        }
    ],
    "outputs": [
        {
            "key": "total_deduction",
            "label": "Total deduction",
            "format": "currency"
        },
        {
            "key": "interest_deduction",
            "label": "Interest deduction, section 24(b)",
            "format": "currency"
        },
        {
            "key": "principal_deduction",
            "label": "Principal within 80C",
            "format": "currency"
        },
        {
            "key": "tax_saved",
            "label": "Approximate tax saved (incl. 4% cess)",
            "format": "currency"
        }
    ],
    "formula": {
        "text": "Old regime: Interest deduction = min(Interest, ₹2,00,000 or ₹30,000); Principal deduction = min(Principal, ₹1,50,000 − other 80C); Tax saved ≈ Total × Slab rate × 1.04. New regime: nil for a self-occupied home",
        "variables": {
            "Slab rate": "the rate on your top slice of income under the old regime"
        }
    },
    "worked_example": {
        "inputs": {
            "regime": "old",
            "loan_type": "purchase",
            "interest": "250000",
            "principal": "100000",
            "other_80c": "80000",
            "slab": "30",
            "currency": "INR"
        },
        "steps": [
            "Interest ₹2,50,000 is capped at ₹2,00,000.",
            "80C room = 1,50,000 − 80,000 = ₹70,000, so ₹70,000 of the ₹1,00,000 principal counts.",
            "Tax saved ≈ 2,70,000 × 30% × 1.04 = ₹84,240."
        ],
        "result": "With ₹2.5 lakh interest and ₹1 lakh principal, the old regime gives ₹2.7 lakh of deductions, saving about ₹84,240 at the 30% slab."
    },
    "interpretation": "The saving only exists under the old regime; check with the Old vs New Tax Regime Calculator whether the old regime still costs less overall once these deductions are included.",
    "assumptions": [
        "FY 2025-26 (AY 2026-27) limits published by the Income Tax Department: interest on a self-occupied home up to ₹2,00,000 for loans for purchase or construction taken on or after 1 April 1999, ₹30,000 for repairs or older loans; combined 80C limit ₹1,50,000, which includes payments for buying or building a house.",
        "Under the new regime, interest on a self-occupied home and 80C deductions are not allowed (Income Tax Department regime FAQs).",
        "The tax saved assumes the whole deduction falls in your top slab; surcharge is ignored."
    ],
    "limitations": [
        "Let-out property, pre-construction interest, joint loans and sections 80EE / 80EEA are not covered.",
        "Rules for tax year 2026-27 onwards under the Income-tax Act, 2025 are not covered."
    ],
    "rules": {
        "jurisdiction": "India",
        "effective_from": "2025-04-01",
        "authority": "Income Tax Department (CBDT), Finance Act 2025, for FY 2025-26 / AY 2026-27",
        "checked": "2026-10-29",
        "review_after": "2027-03-31"
    },
    "faqs": [
        {
            "question": "Can I claim home-loan interest in the new regime?",
            "answer": "Not for a self-occupied house. The Income Tax Department lists interest on borrowed capital for self-occupied property among deductions not allowed in the new regime."
        },
        {
            "question": "Do principal and interest share one limit?",
            "answer": "No. Interest is deducted under section 24(b) up to ₹2 lakh; principal falls within the separate ₹1.5 lakh 80C limit, shared with PF, PPF, ELSS and others."
        }
    ],
    "sources": [
        {
            "title": "Income Tax Department — tax rates and deductions for AY 2026-27 (senior citizens page)",
            "url": "https://www.incometax.gov.in/iec/foportal/help/individual/return-applicable-2"
        },
        {
            "title": "Income Tax Department — deductions allowable to taxpayers",
            "url": "https://www.incometaxindia.gov.in/w/deductions-allowable-to-tax-payer"
        },
        {
            "title": "Income Tax Department — FAQs on new vs old tax regime",
            "url": "https://www.incometax.gov.in/iec/foportal/help/new-tax-vs-old-tax-regime-faqs"
        }
    ],
    "related": [
        {
            "name": "Old vs New Tax Regime Calculator",
            "url": "https://calculators.geekmidst.com/calculators/india-old-vs-new-tax-regime-calculator"
        },
        {
            "name": "Loan Prepayment Calculator",
            "url": "https://calculators.geekmidst.com/calculators/india-emi-with-prepayment-calculator"
        },
        {
            "name": "EMI Calculator",
            "url": "https://calculators.geekmidst.com/calculators/emi-calculator"
        },
        {
            "name": "Mortgage Calculator",
            "url": "https://calculators.geekmidst.com/calculators/mortgage-calculator"
        }
    ],
    "disclaimer": "Tax rules change and depend on how a supply is classified. Use this as a guide and confirm with the official notifications or a tax professional.",
    "publisher": "GM¹X CalcVerse"
}