Maximise tax savings with home loan deductions: Check details to know more

Q: How long will it take to read this news story?

The story "Maximise tax savings with home loan deductions: Check details to know more" has 563 words across 27 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Maximise tax savings with home loan deductions: Check details to know more" was covered 6 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 226 news stories per day. It's most recent story was published 3 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #21819643</li><li>URL: https://beamstart.com/news/maximise-tax-savings-with-home-17222361397989</li></ul>

Business Standard Logo Business Standard 6h ago

Maximise tax savings with home loan deductions: Check details to know more - Business Standard

Quick Summary:

In a nutshell, a housing loan for a self-occupied home will enhance the take-home income by approx.Rs 1.05 lakhs [at 30 per cent slab rate].

Each co-owner in a joint ownership can individually claim this deduction, provided the home loan is sanctioned between 1st April 2019 and 31st March 2022.

Home loan borrowers can significantly reduce their tax liabilities by understanding and utilising the various deductions available under the Income Tax Act of 1961.“Housing loans serve as a great source for ‘home building’ with tax savings.