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personal finance
Tax relief: First-time homebuyers are missing a Rs 50,000 tax break — even banks don’t flag it, says expert
Many first-time homebuyers are unknowingly missing out on a valuable tax benefit—an additional ₹50,000 deduction under Section 80EE of the Income Tax Act. This provision offers extra relief on home loan interest payments, over and above the Rs 2 lakh deduction under Section 24(b).
A couple can claim a total tax deduction of up to Rs 7 lakh per year, with each individual being able to claim ₹3.5 lakh through Sections 80C and 24B, respectively.

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