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
₹34,296₹1,32,992₹34,296₹1,32,992₹50,186₹49,65,704
2027
Year 2
₹1,08,529₹3,93,335₹1,08,529₹2,00,000₹92,559₹48,57,174
2028
Year 3
₹1,17,538₹3,84,326₹1,17,538₹2,00,000₹95,261₹47,39,637
2029
Year 4
₹1,27,294₹3,74,570₹1,27,294₹2,00,000₹98,188₹46,12,343
2030
Year 5
₹1,37,858₹3,64,006₹1,37,858₹2,00,000₹1,01,357₹44,74,485
2031
Year 6
₹1,49,301₹3,52,563₹1,49,301₹2,00,000₹1,04,790₹43,25,184
2032
Year 7
₹1,61,692₹3,40,172₹1,50,000₹2,00,000₹1,05,000₹41,63,491
2033
Year 8
₹1,75,113₹3,26,751₹1,50,000₹2,00,000₹1,05,000₹39,88,378
2034
Year 9
₹1,89,647₹3,12,217₹1,50,000₹2,00,000₹1,05,000₹37,98,731
2035
Year 10
₹2,05,388₹2,96,476₹1,50,000₹2,00,000₹1,05,000₹35,93,343
2036
Year 11
₹2,22,434₹2,79,430₹1,50,000₹2,00,000₹1,05,000₹33,70,908
2037
Year 12
₹2,40,897₹2,60,967₹1,50,000₹2,00,000₹1,05,000₹31,30,011
2038
Year 13
₹2,60,892₹2,40,972₹1,50,000₹2,00,000₹1,05,000₹28,69,119
2039
Year 14
₹2,82,546₹2,19,318₹1,50,000₹2,00,000₹1,05,000₹25,86,574
2040
Year 15
₹3,05,996₹1,95,868₹1,50,000₹1,95,868₹1,03,760₹22,80,578
2041
Year 16
₹3,31,393₹1,70,471₹1,50,000₹1,70,471₹96,141₹19,49,184
2042
Year 17
₹3,58,899₹1,42,965₹1,50,000₹1,42,965₹87,890₹15,90,284
2043
Year 18
₹3,88,689₹1,13,175₹1,50,000₹1,13,175₹78,953₹12,01,596
2044
Year 19
₹4,20,949₹80,915₹1,50,000₹80,915₹69,275₹7,80,647
2045
Year 20
₹4,55,888₹45,976₹1,50,000₹45,976₹58,793₹3,24,760
2046
Year 21
₹3,24,757₹9,819₹1,50,000₹9,819₹47,946₹2

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