I have taken a home loan of 22 Lacs and I need to repay it in 20 years. The Rate of Interest is 7.75%. My EMI starts from this month September.
What are my advantages in the tax savings for this year over the repayment of loan ?
Exactly how much I will save in the 80cc section (1 Lac cap), so that I can plan to invest the remaining amount.
Thanks for your time and consideration.
-Prem