Need A Financial Product Forums Tax Savings Showing ICICI bank home loan EMI in ITR

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    I borrowed a home loan of Rs. 25 lakhs from ICICI Bank in February 2013 and since then I am paying EMIs. Somebody told me that I can show this EMI in ITR to reduce my tax liability. The property is under construction and I will get possession in December 2015. Please guide me over this.


    Bhavini Ram

    Since you are already repaying your home loan, you can claim the benefit under section 80 C. 80 C is available to you even during the construction of your property. However, benefit on interest payment will be available to you after completion of construction.

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