For Resident Indians
Home Loan Deductions: Enjoy deductions on both interest (up to ₹2 lakhs) and principal (up to ₹1.5 lakhs) repayments.
Deduction for Stamp Duty: Claim expenses within the ₹1.5 lakhs limit under section 80C.
Additional Deductions: Benefit from extra deductions like up to ₹50,000 under section 80E and ₹1.5 lakhs under section 80 EEA for first-time buyers.
Joint Home Loan Deduction: Co-owners can claim deductions separately.
Standard Deduction: Avail a 30% deduction on rental income assumed for repairs.
Depreciation: Deduct property wear and tear costs.
