ഹോം ലോൺ നികുതി ആനുകൂല്യങ്ങൾ: പഴയ vs പുതിയ ഭരണം 2026

Under the old tax regime, home loan borrowers (self-occupied property) can claim two deductions:

• Section 24(b): Interest paid on a home loan is generally deductible up to ₹2 lakh per year for self-occupied properties, subject to conditions including the loan being taken for purchase or construction
• Section 80C: Principal repayment (including EMI principal and prepayments) counts toward the broader ₹1.5 lakh Section 80C cap, which is shared with other eligible investments like PPF, ELSS, and life insurance premiums

Under the new tax regime (default from FY 2023–24 onwards), the tax landscape for home loans changes significantly:

• Section 24(b) deduction on interest for self-occupied properties is generally not available under the new regime
• Section 80C deductions are generally not available under the new regime

The new regime offers lower slab rates in exchange for giving up most deductions. For many homeowners, especially those with few other deductions, the new regime may still result in lower total tax.

Under the old regime: prepaying your loan reduces your outstanding balance and therefore your interest outgo. If your annual interest was near the ₹2L deduction limit, aggressive prepayment can reduce the deduction you claim, effectively increasing your tax liability by a small amount. This "cost" is usually far smaller than the interest you save.

Under the new regime: since the interest deduction is generally not available, prepayment has no negative tax impact. You save the full interest amount without reducing any deduction.

To see the actual interest you could save (before factoring in any tax implications), use your bank's calculator: HDFC prepayment calculator, SBI prepayment calculator, or browse all banks.

Before weighing tax implications, you need the base number: how much interest will you actually save by prepaying? That depends on your outstanding balance, current rate, and remaining tenure.

KlearPay generates a personalised prepayment savings report in under 2 minutes. Upload your home loan statement and get the exact numbers for your loan.