Home Loan Tax Benefits Under Section 24(b)

Tax deduction on interest paid on Home loan under section 24(b) of the Income Tax Act.

Yes, mortgage loan interest tax is a deduction under section 24(b) of the Income Tax Act.

Section 24 of the Income Tax Act lets individuals claim a tax exemption on the interest paid on home loan for up to Rs 2 Lakhs.

Yes, NRIs can claim home loan interest deduction.

Yes, you can claim a deduction on home loan interest if you live in a rented house.