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of <h1>Tax Relief for First-Time Homeowners: Deduction of Up to 150,000 Rupees on Home Loan Interest Under Specific Conditions</h1> This statutory provision allows individual taxpayers a deduction of up to 150,000 rupees on interest paid for residential house property loans. Eligibility requires loan sanctioning between April 2019 and March 2022, property stamp duty value not exceeding 45 lakhs, and the taxpayer not owning any other residential property at loan sanction. The deduction applies for the 2020 assessment year and subsequent years, with restrictions on claiming the same interest under other provisions of the Income Tax Act.
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