No hike in home loan interest deduction limit in Interim Budget 2024
Thu, Feb 1, 2024 1:42 PM

No hike in home loan interest deduction limit in Interim Budget 2024

A Flip by Shubhangi Gupta
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Recent Interim Budget did not bring any relief for home loan borrowers, as there was no announcement on increasing the current deduction limit of Rs 2 lakh per annum. This deduction can only be claimed by those under the old tax regime and is available for joint home loans as well. With the RBI raising the repo rate by 250 basis points since May 2022, borrowers have faced a higher interest burden.

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