Deductions on rent. Note: Staying with parents? You can still claim HRA
Tax Benefit:
50% of the basic salary (metro)
40% of the basic salary (Non metro)
Health insurance premiums are tax deductible
Tax Benefit:
₹ 25,000 for self
₹ 50,000 for parents (60+ years)
You can avail a tax deduction on the interest paid on education loan
Tax Benefit:Total interest of the EMI paid during the financial year
Tax deduction on housing loan
Tax Benefit:
Upto ₹2 lakhs can be claimed on the interest portion
Upto ₹1.5 lakhs can be claimed under 80C on the principal
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