What is a Home Loan Tax Benefit Calculator?
Home-loan tax treatment depends on tax regime, occupancy and whether the underlying statutory conditions are satisfied. This calculator separates principal and interest rather than presenting one oversized “tax benefit” number.
For a self-occupied property under the old regime, the model caps eligible Section 24 interest at ₹2 lakh where the conditions for that limit are met and constrains principal repayment by the remaining Section 80C limit. New-regime treatment is more restrictive.
Simplified deduction-impact model
The calculator uses FinPockett’s current individual-tax engine for the before/after comparison. It is intentionally conservative and does not model every house-property loss, co-owner, pre-construction-interest or carry-forward rule.
Regime choice changes the answer
A deduction that exists under the old regime cannot simply be assumed under the new regime. The calculator therefore treats regime as a first-order input rather than burying it in an FAQ.
Frequently asked questions
Is principal repayment automatically deductible up to ₹1.5 lakh?
No. It shares the Section 80C aggregate limit with other eligible items and statutory conditions apply.
Is self-occupied interest always deductible under the new regime?
No. The new regime is materially more restrictive for self-occupied home-loan interest.
Does this model every let-out property rule?
No. Let-out income, loss set-off and carry-forward can require additional facts, so the result is a simplified estimate.