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Government raises income tax exemption limit on home loans by Rs 1.5 lakh

Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. On home loans, Sitharaman said the income tax exemption limit has been raised by Rs 1.5 lakh. This is applicable for loans upto Rs 45 lakhs.

Edited by: India TV Business Desk New Delhi Updated on: July 05, 2019 13:16 IST
Budget 2019
Image Source : PTI / REPRESENTATIVE

Budget 2019-20: Income tax exemption limit on home loans raised by Rs 1.5 lakh

Presenting her maiden budget in the Lok Sabha, Finance Minister Nirmala Sitharaman on Friday said the income tax exemption limit on home loans has been raised by Rs 1.5 lakh up to March 2020.

The raised tax exemption is applicable for loans upto Rs 45 lakhs, the finance minister said. 

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Also Read | Two percent TDS on cash withdrawal exceeding 1 crore in a year

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