Dreaming of owning a home is one thing, but turning that dream into reality comes with an unexpected bonus—significant tax savings.

With the right financial planning and a home loan, you can achieve both goals: securing your future and reducing your income tax liability. Let us explore how this works and why Bajaj Housing Finance Home Loan could be the perfect partner for your journey.

Why a home loan is a smart tax-saving tool

When you take a home loan, you are not just investing in property; you are unlocking a range of tax benefits that can lighten your financial burden. Here is a closer look at how:

1. Section 80C deduction for principal repayment: Under Section 80C of the Income Tax Act, you can claim a deduction of up to Rs. 1.5 lakh annually on the principal amount you repay on your home loan. This deduction is part of the broader Rs. 1.5 lakh limit, including investments like PPF and ELSS.

2. Section 24(b) deduction for interest paid: You can also claim up to Rs. 2 lakh per year on the interest you pay for your home loan under Section 24(b). This deduction is applicable if the house is self-occupied or vacant. If rented out, there is no upper limit on interest deductions, although rental income will be taxable.

3. Additional deduction under Section 80EEA: For first-time homebuyers, there is an extra tax benefit. Under Section 80EEA, you can claim an additional deduction of up to Rs. 1.5 lakh on interest paid, provided your property’s value is within Rs. 45 lakh.

4. Stamp duty and registration charges: Did you know? You can also claim a deduction for stamp duty and registration charges under Section 80C (within the Rs. 1.5 lakh limit).

With these provisions, buying a home becomes a tax-efficient way to build an asset while lowering your taxable income.

Also, planning your tax savings is easier than ever, thanks to tools like the income tax calculator and home loan tax benefit calculator. These tools give you a clear picture of how much tax you can save.

Explore Bajaj Housing Finance Home Loan

When it comes to home loans, Bajaj Housing Finance offers a smart and hassle-free solution. With attractive interest rates, flexible repayment plans, and swift processing, it provides a smooth and convenient home loan journey.

Here’s how Bajaj Housing Finance Home Loan stands out:

High loan amount: Buying a home is a significant milestone. Make it achievable with a loan amount of up to Rs. 15 crore*.

Low interest rates: Enjoy competitive interest rates starting at 8.50%* p.a., with EMIs as affordable as Rs. 759/lakh*.

Long repayment tenure: Repay your loan comfortably with a flexible tenure of up to 32 years*.

Easy application process: Skip multiple branch visits with hassle-free doorstep document pick-up service for a seamless application experience.

Balance transfer facility: Take advantage of the home loan balance transfer option and access a top-up loan of Rs. 1 crore* or more.

Whether you are a first-time buyer or looking to upgrade, Bajaj Housing Finance Home Loan makes the journey smooth and rewarding.

Your tax-saving journey starts here

Buying a home is not just about having your own space; it is about making an intelligent financial decision that secures your future. With the right home loan, you can save taxes, reduce financial stress, and invest in your family’s future.

Ready to turn your dream home into reality? Apply for a Bajaj Housing Finance Home Loan today and experience the dual benefits of homeownership and tax savings!

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