Save Lakhs

by Venba Apps

Tax Benefits Calculator

Calculate Section 80C and 24(b) tax deductions on your home loan

Loan Details

₹50,00,000
10000050000000
8%
5%15%
20 years
1 years30 years

Tax Details

30%
5%30%

Loan Summary (First Year)

Monthly EMI₹41,822
Principal Paid₹1,05,683
Interest Paid₹3,96,181

Annual Tax Savings (Year 1)

₹91,705

Effective Monthly EMI: ₹34,180

Effective Interest Rate: 6.72%

Section 80C (Principal Repayment)

Principal Paid (Year 1)₹1,05,683
Max Deduction Allowed₹1,50,000
Your Deduction₹1,05,683
Tax Saved₹31,705

Section 24(b) (Interest Payment)

Interest Paid (Year 1)₹3,96,181
Max Deduction Allowed₹2,00,000
Your Deduction₹2,00,000
Tax Saved₹60,000

Smart Tax Planning

After-Tax Effective Rate

Your nominal rate: 8% → Effective rate: 6.72%

Tax benefits reduce your effective interest rate by 16.0%!

  • Section 80C saves ₹31,705/year on principal
  • Section 24b saves ₹60,000/year on interest
  • Total annual tax savings: ₹91,705

Your 8% loan effectively costs only 6.72% after tax benefits!

Understanding Tax Benefits

Section 80C Deduction

  • Deduction on principal repayment
  • Maximum deduction: ₹1.5 lakhs per year
  • Shared limit with other 80C investments
  • Available from the year of possession

Section 24(b) Deduction

  • Deduction on interest payment
  • Maximum deduction: ₹2 lakhs per year
  • Available even before possession
  • Pre-construction interest also eligible

Tax Benefits Breakdown

Year/MonthPrincipalInterest80C Deduction24(b) DeductionTax SavedBalance
2026
Year 1
₹69,515₹2,65,061₹69,515₹2,00,000₹80,855₹49,30,485
2027
Year 2
₹1,11,453₹3,90,411₹1,11,453₹2,00,000₹93,436₹48,19,032
2028
Year 3
₹1,20,703₹3,81,161₹1,20,703₹2,00,000₹96,211₹46,98,328
2029
Year 4
₹1,30,723₹3,71,141₹1,30,723₹2,00,000₹99,217₹45,67,606
2030
Year 5
₹1,41,572₹3,60,292₹1,41,572₹2,00,000₹1,02,472₹44,26,035
2031
Year 6
₹1,53,321₹3,48,543₹1,50,000₹2,00,000₹1,05,000₹42,72,713
2032
Year 7
₹1,66,048₹3,35,816₹1,50,000₹2,00,000₹1,05,000₹41,06,665
2033
Year 8
₹1,79,830₹3,22,034₹1,50,000₹2,00,000₹1,05,000₹39,26,835
2034
Year 9
₹1,94,754₹3,07,110₹1,50,000₹2,00,000₹1,05,000₹37,32,080
2035
Year 10
₹2,10,919₹2,90,945₹1,50,000₹2,00,000₹1,05,000₹35,21,160
2036
Year 11
₹2,28,426₹2,73,438₹1,50,000₹2,00,000₹1,05,000₹32,92,733
2037
Year 12
₹2,47,386₹2,54,478₹1,50,000₹2,00,000₹1,05,000₹30,45,348
2038
Year 13
₹2,67,919₹2,33,945₹1,50,000₹2,00,000₹1,05,000₹27,77,429
2039
Year 14
₹2,90,156₹2,11,708₹1,50,000₹2,00,000₹1,05,000₹24,87,274
2040
Year 15
₹3,14,238₹1,87,626₹1,50,000₹1,87,626₹1,01,288₹21,73,036
2041
Year 16
₹3,40,319₹1,61,545₹1,50,000₹1,61,545₹93,464₹18,32,716
2042
Year 17
₹3,68,566₹1,33,298₹1,50,000₹1,33,298₹84,989₹14,64,149
2043
Year 18
₹3,99,158₹1,02,706₹1,50,000₹1,02,706₹75,812₹10,64,992
2044
Year 19
₹4,32,288₹69,576₹1,50,000₹69,576₹65,873₹6,32,705
2045
Year 20
₹4,68,165₹33,699₹1,50,000₹33,699₹55,110₹1,64,539
2046
Year 21
₹1,64,537₹2,751₹1,50,000₹2,751₹45,825₹2

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