Owning a home is more than just an aspiration; it is also a practical step toward building financial security. For first-time buyers, applying for a Home Loan not only makes property ownership achievable but also unlocks significant tax-saving opportunities. The Indian Income Tax Act provides a range of deductions on repayment of principal and Home Loan interest , enabling buyers to reduce their taxable income while building an asset.

This guide explores the tax benefits available to first-time homebuyers, explains how these deductions work, and highlights smart ways to maximise savings.

Why Tax Benefits Matter for First-Time Buyers

When you apply for a Home Loan, your repayment consists of two parts: principal and interest. Both are eligible for deductions under different sections

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