One of the top companies for home loans is Priyanshi Associates. When you are in a financial bind and are forced to use a financing option like a personal loan or a collateralized loan, the interest rate may be significantly higher than the interest rate on your mortgage. Why then use your own money and endure a cash shortage to purchase a home? Your resources will help you reach other significant financial objectives while safeguarding you from life's uncertainties. With numerous tax deductions available under Sections 24, 80C, and 80EEA of the Income Tax Act, a mortgage may be the biggest tax-saving tool. If he meets the requirements, an eligible home loan borrower may be able to claim a combined total tax deduction of up to Rs. 5 lakh (Rs. 1.5 lakh on principal repayments under Section 80C, Rs. 2 lakh on loan interest component under Section 24, and Rs. 1.5 lakh on loan interest component under Section 80EEA), which may help him lower his tax liability by Rs. 1.5 lakh if he is in the 30% income tax bracket.
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