Section 24 of Income Tax Act – Home Loan Interest Tax Benefit

Section 24 of Income Tax Act – Home Loan Interest Tax Benefit

Interest rate is the major considering factor of a home loan, which largely impacts its affordability. It signifies the cost of borrowing that borrowers are mandated to pay for the credit they avail. With high rates, the total interest outflow towards the loan repayment is also expensive and vice versa. To relieve borrowers from financial…