The budget had some terrible news for taxpayers servicing home loans. Until now, they could get tax benefit on the interest portion of the loan twice. First, by claiming deduction up to ₹2 lakh (for self-occupied property) every year under section 24 (available only under the old tax regime). Second, after selling off the property, they were allowed to add the interest part of the loan to the total cost of acquisition (purchase price) that is used to arrive at the capital gains.
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