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Home loans get more tax benefits

In the Budget 2013-14, Finance Minister has proposed that home loans up to Rs 25 lakh would get an additional deduction of Rs 1 lakh on interest payment.

BT Online Bureau        Last Updated: February 28, 2013  | 11:59 IST

In the Budget 2013-14, Finance Minister P Chidambaram has proposed that home loans up to Rs 25 lakh would get an additional deduction of Rs 1 lakh on interest payment.

Currently, the limit on interest payment deduction on home loan is Rs 1.5 lakh. The limit has been constant for almost a decade despite a sharp hike in the cost of a house.

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