Dear FM, Currently we are having the Income tax exemption on Housing loan interest up to 1.5 lac. Middle class people purchase the new HOME only once in their life time and this exemption should be kept for the coming years. (We heard that FY 2010-2011 might be the last year for such exemption)
Re: Income tax exemption on Housing loan interest
by Aparna kunne on Feb 02, 2010 02:00 PM Permalink
Rather also include income tax exemption for principal component on the basis of actual amount of principle paid. Because 100000 Rs limit under 80C is too small to include principle repayment. This will help major home loan borrowers I hope everyone will agree to this
