Loading page
About this tool
Deductible home loan interest under Section 24(b) for self-occupied and let-out property, with the Rs 2 lakh cap.
This calculator works out how much of your home loan interest is actually deductible under Section 24(b) of the Income-tax Act, 1961. It applies the ₹2,00,000 ceiling for a self-occupied house, the ₹30,000 ceiling for repair loans and delayed construction, and the uncapped deduction available on a let-out property after the 30% standard deduction. It is built for salaried borrowers and landlords who want to know their real house-property loss, how much can be set off this year and how much carries forward.
Open Section 24B Home Loan Interest Deduction on AltFTool — it loads instantly in your browser.
Enter the values you already know.
Fine-tune the options to match your scenario.
Read the result and use it in your planning or reporting.
Shows the nil self-occupied deduction and blocked loss set-off under the new regime 115BAC.
Separates the ₹2,00,000 annual set-off from the loss carried forward for eight years.
Adds the one-fifth instalment automatically instead of you doing it on paper.
For a self-occupied house the limit is ₹2,00,000 a year where the loan was taken on or after 1 April 1999 for purchase or construction and construction finishes within five years. Repair or renovation loans, and delayed construction, are limited to ₹30,000.
Yes, the whole interest is deductible with no ceiling under Section 24(b). However, the resulting loss from house property can only be set off against other income up to ₹2,00,000 in a year under Section 71(3A); the balance carries forward for eight assessment years.
No for a self-occupied house — the deduction is not available under Section 115BAC. Interest on a let-out property is still deductible against rental income, but the house-property loss cannot be set off against salary or other heads, nor carried forward.
Interest paid before the year construction is completed is aggregated and claimed in five equal annual instalments starting from the year of completion. For a self-occupied house it still counts inside the same ₹2,00,000 overall ceiling.
Add the Section 24B Home Loan Interest Deductionwidget to your blog or website — free, responsive, no signup. Just keep the “Widget by AltFTool” credit link visible.
<iframe src="https://www.altftool.com/embed/widget/section-24b-home-loan-interest-deduction"
title="Section 24B Home Loan Interest Deduction — free AltFTool widget"
width="100%" height="640" style="border:0;border-radius:12px;overflow:hidden"
loading="lazy" referrerpolicy="no-referrer-when-downgrade"></iframe>
<p style="font-size:12px;margin:4px 0 0">Widget by <a href="https://www.altftool.com/tools/all/section-24b-home-loan-interest-deduction?utm_source=embed&utm_medium=widget">AltFTool — free online tools</a></p>