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1162. What are the Tax Breaks on Home Loan

Tax BreakInterest paid by a person on Home loan is also allowed as a deduction for income tax purpose. In case of self occupied property, this is restricted to INR 150,000 (subject to change from time to time under tax laws) per borrower. In case of property which is rented out, the actual interest paid can be claimed as a deduction, subject to certain conditions.
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