Tax Card
Property tax estimator and income tax benefits on home loans
Property Tax Estimator
Annual Property Tax₹4,200
Monthly (~₹3.5/sqft/yr)₹350/mo
Home Loan Tax Benefits
Sec 24(b) Interest Deduction₹2,00,000
Sec 80C Principal Deduction₹1,00,000
Standard Deduction (Rental)₹0
Total Tax Savings (est.)₹90,000*
*Assuming 30% tax slab. Actual savings depend on your income bracket.
Income Tax Deductions on Home Loans
| Section | Description | Max Deduction |
|---|---|---|
| 80C | Home Loan Principal Repayment | ₹1,50,000 |
| 24(b) | Home Loan Interest (Self-Occupied) | ₹2,00,000 |
| 24(b) | Home Loan Interest (Rented) | No limit (actual interest) |
| 80EE | First-time buyer extra interest (₹50K) | ₹50,000 |
| 80EEA | Affordable housing extra interest (₹1.5L) | ₹1,50,000 |
| 54 | Capital Gains on Sale (reinvest in new house) | Full exemption |
| 54F | Capital Gains on other assets (reinvest) | Proportionate |
Property Tax
Paid annually to municipal corporations. Varies by city, area, property type, and age. Typically ₹2-5 per sqft per year.
Capital Gains Exemption
Sections 54/54F: reinvest sale proceeds into a new residential property within 2 years to avoid LTCG tax up to full exemption.
TDS on Property
Buyer must deduct 1% TDS under Section 194-IA on property value > ₹50L. Deposit with IT department within 30 days.