How to Claim Tax Benefits on Home Loans ?

Posted Date : 04 Apr 2023

Posted By : Capitalneed

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It is very simple process to Claim tax benefits on home loans. Following are the steps to claim your tax deduction.

Step 1: First you have to calculate the tax deduction that you want to claim.

Step 2: Make sure that the home is in your name or you are the co-borrower of the home loan.

Step 3: As a next step, You need to Submit your home loan interest certificate to your employer to adjust the tax deductible at source.

Step 4: As an option, If you cannot process the above step, you would have to file the tax return by yourself.

Step 5: For the self-employed professionals, They do not required to submit these documents. They have to arrange the documents if in case the IT department raises queries further