Don't Just Pay, Save!
Buying a home isn't just an expense; it's a tax-saving instrument. Governments in both India and the USA incentivize homeownership.
🇺🇸 For USA Homeowners: The Salt Deduction
The IRS allows you to deduct interest paid on the first $750,000 of mortgage debt. If you bought your home before Dec 15, 2017, this limit is $1 million.
🇮🇳 For Indian Homeowners: Section 24(b) & 80C
In India, the tax code is generous:
- Section 80C: Deduction up to ₹1.5 Lakhs on Principal repayment.
- Section 24(b): Deduction up to ₹2 Lakhs on Interest payment.
- Section 80EEA: Additional ₹1.5 Lakhs for first-time buyers (subject to conditions).
Strategy for 2026
Plan your EMIs such that your interest component maximizes the limit. Check our calculator to see your Interest/Principal split.