Section 80C is a popular section under the Income Tax Act, 1961 that lets individuals reduce their taxable income by investing in specific avenues. Home loan repayment is one of the biggest components covered under 80C.

Under Section 80C:

• You can claim up to ₹1.5 lakh every financial year on the principal amount you repay on your housing loan.

• This deduction is available for self-occupied as well as rented residential properties.

• Both first-time buyers and investors can claim it (subject to certain conditions).

What is Section 80C?

What Parts of a Home Loan Qualify for Tax Deduction?

When you buy a flat or builder floor with loan funding, there are two parts you can claim deductions on:

Principal Repayment (Section 80C)
You can claim up to ₹1.5 lakh per year on the principal portion repaid during the financial year under Section 80C.

Interest Repayment (Section 24b)
Separately, you can claim up to ₹2 lakh per year on the interest paid on your home loan under Section 24(b). This is apart from the 80C benefit.

Who Can Claim These Tax Deductions?

✔️ First-Time Homebuyers:
If you’re buying your first property in Delhi NCR, you can claim the 80C deduction from the year the construction is completed and you get possession.

✔️ Joint Home Loan Holders:
If a husband and wife jointly own a property and both are co-borrowers on the home loan, each can claim up to ₹1.5 lakh on principal and ₹2 lakh on interest — effectively doubling the benefit!

✔️ Investors & Rental Income Buyers:
Even if you don’t live in the property, you can still claim deductions under 80C and 24(b) if you’ve taken a home loan for the purchase.

Smart Tips to Maximise Tax Savings

💡 1️⃣ Take a Joint Loan:
Add your spouse or family member as co-owner and co-borrower. This can double your 80C and interest deductions if both have taxable income.

💡 2️⃣ Time Your EMI Payments:
Plan to make maximum principal repayments before the financial year ends (March 31) to claim the full ₹1.5 lakh deduction.

💡 3️⃣ Choose Registry-Ready Properties:
Tax benefits apply only to legal, registered residential properties. Buying a flat or builder floor with clear titles ensures hassle-free possession and loan processing.

💡 4️⃣ Get Home Loan Statements:
Always collect the annual home loan statement from your bank or lender to easily claim your deductions while filing ITR.

Maximise Savings on Home Loan

At TFRG, we do more than show you listings — we ensure you buy verified, registry-ready flats that qualify for housing loans from reputed banks. Our experts guide you with:

✔️ End-to-end loan assistance at best rates.

✔️ Verified builder floors in Chattarpur, Vasant Kunj, and South Delhi.

✔️ Transparent paperwork so you can claim all eligible tax benefits.

✔️ Zero brokerage deals — so you save more upfront too!

How The Fortune Realty Group Supports Smart Buyers

Bonus Tip: Claim Additional Benefit Under Section 80EEA

If you’re a first-time homebuyer purchasing an affordable house and meeting certain conditions, you may also claim an additional ₹1.5 lakh deduction on interest paid under Section 80EEA — on top of Section 24(b). Check with your CA for eligibility!

Buying a home is not just about fulfilling your dream — it’s a smart way to save tax year after year. By understanding Sections 80C and 24(b) and working with a trusted partner like The Fortune Realty Group, you can maximise savings, secure clear paperwork, and enjoy a stress-free buying experience.

Looking for verified flats in Delhi NCR with easy loan approval and clear registry?

Check our latest listings or call us today for expert help.