Union Budget 2022: Five things you should know about home loan incentives
Union Budget 2022: Five things you should know about home loan incentives

Union Budget 2022: Five things you should know about home loan incentives

Admin | 2022-03-08

NEW DELHI: The Union Budget 2022-23 announced by finance minister Nirmala Sitharaman allocated Rs 48,000 crore to the Pradhan Mantri Awas Yojana (PMAY). It also enabled faster approvals for affordable housing in urban areas.

Booking an apartment which is under construction is sometimes cheaper. I-T law permits you to claim the total interest paid during the pre-delivery period as a deduction in five equal installments starting from the financial year in which the construction was completed or you acquired your apartment (generally this denotes the date of possession). Of course, the maximum you can claim as a deduction per year continues to be Rs 2 lakh, in case of self-occupied property (Although, you could be eligible for the additional interest deduction of Rs 1.5 lakh for your first house)


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