Home Loan Tax Rebate Calculator 2015 – 2016; self-occupied, rented out, second home, vacant home

Last Updated 17th Jan 2017
Now you can easily calculate the tax rebate and benefit available on principal repaid under section 80C, interest paid under section 24 and income from rented out home property under chapter 6 of the Indian Income Tax Act, as per amendments proposed by the Union Budget 2015-2016 by Union Finance Minister Mr. Arun Jaitley. Plan your other investments and advance tax payments accordingly with ease.
Property Type

Self Occupied

Vacant, claiming HRA deduction as staying in different city for work

Rented Out

Vacant for any other reason but not claiming HRA benefit

Financial year

2014 - 15

2015 - 16

verification image, type it in the box

Tax Deduction available on your home loan

  • Borrower age assumed upto 60 years. For senior citizens, maximum limit u/s 80C (FY2014-15) is Rs. 200000 instead of Rs. 150000/-
  • For jointly owned properties, principal repaid, interest paid, rental and deemed rental to be taken in proportion of each owner's share. Limits as above applicable to each joint owner and not on a property
  • Loss on house property is available for both residential and commercial properties
  • Above calculations are indicative in nature and exact deductions allowable may vary from case to case. Consult your tax advisor before claiming above deductions

*Myloancare is a bank neutral platform and channel partner of multiple banks and lenders. Myloancare does not represent any government, government body, regulator, bank, lender or credit information bureau. Information carried at this website is based on perusal of public sources, is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information, FAQ’s, graphics, images, text, and/ or various tools and calculators (together called “Information”) carried at the website. Lenders/ banks may contact us at info@myloancare.in to provide corrections or updates.

Tax Rebate Calculator News - Jan 2017
17th Jan 17 LIC Housing Finance registers a 19 percent growth in its net profit in third quarter of FY 17
LIC Housing Finance has reported an increase of 19 per cent in its net profit at Rs. 499 core for third quarter ending on 31st December, 2016 as compared to Rs. 419 crore for the corresponding period a year ago. Non performing assets of the company have declined to 0.56 percent from 0.58 percent during the same period a year ago.
16th Jan 17 Home loans are likely to get additional tax incentives in the upcoming union budget for FY17
Union budget for FY 2017 is expected to bring higher tax benefits for middle class home loan borrowers. The benefit is expected to provide an increased tax deduction to home loan borrowers which may go beyond the annual amount of Rs. 2 lakh. The additional tax benefit is likely give a boost to the faltering reality sector that has been adversely hit by demonetisation.
16th Jan 17 Demonetization hits real estate market adversely with sales reduced by 50 per cent
Developers in real estate market have experienced a significant fall in sales of houses by 50 percent during October to December, 2016. Developers in Delhi NCR region alone are estimated to have incurred a revenue loss of around Rs. 22, 600 crore during this period. The effect could also be seen on state government finances in the form of estimated reduction in stamp duty collections of around Rs. 1, 200 crore.
14th Jan 17 Tata Capital Housing Finance reduces home loan interest rates
Tata Capital Housing Finance has reduced its home loan interest rates. The revised home loan rates for loan amount up to Rs.75 lakhs now stands at 8.70 percent for women borrowers. The NBFC has also reduced its home loan rates for other borrowers to 8.75 percent.
13th Jan 17 Standard Chartered Bank reduces home loan interest rates
Standard Chartered Bank has reduced its home loan interest rate by 45 basis points. The revised home loan rate now stands at 8.90 percent as compared to 9.35 percent earlier. The new rate is effective from 8th January, 2017.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.