Budget 2014 impact on home loans

Impact of Budget 2014 on Home loans: The budget has brought good news for a New Home loan customers. Home loans upto Rs 25 lac will be allowed additional deduction of interest of 1 lac. This  will mean that the customers who are running home loans upto 25 lac can save on tax and will have more net income to hold on to.

So now taking Home loan

1. Helps to save rent
2. Property appreciation
3. Asset creation.
4. Tax benefit upto 2.5 lac as interest can be deducted from total income.

Budget Bonaza for Home loan customers 2013 – Additional one lac deduction of interest allowed for home loans upto 25 lacs.