WEDNESDAY, APRIL 30, 2025 2:49:57 PM
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This tool calculates the tax savings from loan taken for buying newly constructed house.
In case you're buying a newly constructed house taking a home loan: you'll get tax exemptions on interest payment upto Rs. 1.5 Lacs p.a. and tax rebate on principal repayment upto Rs.1 Lacs p.a.
Your tax saving depends on loan amount, loan tenure, rate of interest, reducing balance frequecy and your marginal tax bracket.
Input
Loan amount(
R
s
)
I started repaying loan in
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
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Dec
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
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2013
2014
2015
2016
2017
2018
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2020
Loan tenure
years
Rate of interest
% p.a.
Rest
Yearly
Monthly
Marginal Tax Rate
%