| Tax Benefits | On Repaid Principal | On Paid Interest |
|---|---|---|
| First Home – Self Occupied | Upto Rs. One Lakh Fifty Thousand (Rs. Two Lakh for senior citizens) | Up to Rs. Two Lakh if completed within 3 years from the end of the fin. year in which loan is taken, else Rs. 30,000. Additional exemption of upto Rs. 50,000/- on interest paid for loans upto Rs. 35 lakhs with cost of home upto Rs. 50 lakhs |
| First Home – Rented/ Vacant | Upto Rs. One Lakh Fifty Thousand (Rs. Two Lakh for senior citizens) if staying in a different city for work | On entire interest paid without any limit |
| Under Constrn. | None | The interest paid can be claimed in equal parts in five fin. years post completion or handing over. |