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

Last Updated 29th Apr 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 - Apr 2017
25th Apr 17 SBI and Credai sign MoU to develop real estate sector
State Bank of India has entered into an agreement with Confederation of Real Estate Developers’ Association of India (CREDAI) to collaborate and work towards the development of the real estate sector, specifically aimed at developing affordable housing and greenhousing projects. This initiative will help millions of home buyers fulfill their dream of owning a home. SBI, the largest mortgage lender, will give CREDAI member developers an interest concession up to 35bps for construction finance for eligible affordable housing projects.
25th Apr 17 Indiabulls Housing Finance Q4 net up 24%
Indiabulls Housing Finance has reported a 24 per cent increase in net profit for the March quarter.Net profit for the fourth quarter of this fiscal year stood at Rs. 841 crore as against from Rs. 676 crore a year ago. Vice chairman, Gagan Banga, Indiabulls, stated that the company has observed a good growth in the geographies of Bombay, Pune, Bangalore and Hyderabad in its home loan portfolio.
21st Apr 17 Government to promote rental housing in urban areas
The government is planning to implement a policy plan to reduce shortage of housing in the urban areas by encouraging renting of vacant homes lying across the country. M. Venkaiah Naidu, minister of urban development, housing and poverty alleviation said that the draft for national urban rental housing policy is ready and it will go the union cabinet soon for its approval.
15th Apr 17 Supertech to invest Rs. 2,500 crore to deliver 15,000 homes in FY18
Supertech, Delhi based Real estate developer plans to invest Rs. 2,500 crore to deliver 15,000 low cost homes in the current Financial Year. The company further added that they have already delivered 8,500 units in the last financial year and are committed to deliver another 15,000 units this fiscal year.
14th Apr 17 Indiabulls housing finance raises Rs. 43 crore
Indiabulls housing finance said that it has raised Rs. 43 crore through an issue of non-convertible debentures (NCDs) as a part of its plans to raise Rs. 6,000 crore from the market. They also informed that this is the sixteenth tranche of NCDs of having a face value of Rs 10 lakh each.
*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.