What is Section 24b of the Income Tax Act?

Section 24b allows homeowners to claim a deduction of up to ₹2,00,000 on the interest paid towards a home loan for a self-occupied property. For let-out properties, the entire interest can be claimed, subject to set-off limits.

Can I claim both Section 80C and Section 24b?

Yes, absolutely. The principal repayment portion of your EMI is claimed under Section 80C (up to ₹1.5 Lakhs), and the interest portion is claimed under Section 24b (up to ₹2 Lakhs).

Is stamp duty eligible for tax deduction?

Yes, stamp duty and registration charges paid for the property purchase can be claimed under the overall ₹1.5 Lakh limit of Section 80C in the year they are paid.

Tax Deduction (Section 24b) Calculator - Free Smart Calculators & AI Tools

Tax Deduction (Section 24b) Calculator | Home Loan Tax Benefits

⚖️ Tax Exemption Engine

Annual Interest Paid (Current FY)

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Annual Principal Paid (Current FY)

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Property Type

Your Income Tax Slab

Eligible Sec 24b (Int)

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Eligible Sec 80C (Prin)

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Net Income Tax Saved (Approx)

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Total Eligible Deduction

Sec 24b (Int)

Sec 80C (Prin)

Paid vs Claimable (Loss)

Paid

Eligible

Component	Actual Paid	Max Eligible	Wasted/Unclaimed
Interest (Sec 24b)	₹0	₹0	₹0
Principal (Sec 80C)	₹0	₹0	₹0
Total	₹0	₹0	₹0

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About the Section 24b & 80C Engine

The Income Tax Act provides dual relief for homeowners. Section 80C allows you to claim the principal portion of your EMI up to a maximum of ₹1,50,000 per financial year. This bucket also includes stamp duty and registration fees.

Section 24(b) allows you to deduct the interest portion of your EMI. If the property is self-occupied, the deduction is strictly capped at ₹2,00,000. If the property is let-out (rented), you can claim the entire interest paid; however, the maximum loss that can be set off against other income heads (like salary) is restricted to ₹2,00,000 per year.

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🧾 Tax Deduction (Sec 24b)

About the Section 24b & 80C Engine