Advantage; Homeloan
Get a home loan save tax. Yes, I'll elaborate on it later but now some quick notes Get a home loan and if you live in it you get up to 1.5Lakh of interest deducted from your taxable income Get a home loan and rent it out; all the interest is delectable form your taxable income. Get your spouse to be a co-applicant on the loan both of you can enjoy the deductions. Up to 1 Lakh of Principle is delectable from your taxable income (this falls under 80C so your PPF, ULIP, MF etc. is wasted) (Rented out or self-occupied) Use the interactive Tableau dashboard (change the numbers in the boxes) to see how the numbers work for you and what saves most taxes for you. Learn About Tableau You will notice that you will have better tax savings when you rent out your property and stay in a rented house yourselves. when you rent out all your Interest is tax deductible) But if you stay in it yourselves - you only get up to Rs 1.5 lakhs of deductible amount per year. [indirect me