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of <h1>Eligible taxpayers can deduct up to 150,000 rupees for home loan interest under Section 130 if conditions are met.</h1> An individual taxpayer not eligible under section 130 can claim a deduction for interest on a loan from a financial institution for acquiring a residential house, up to a maximum of 150,000 rupees per tax year. This applies from April 1, 2019, onwards, provided the loan was sanctioned between April 1, 2019, and March 31, 2022. The property's stamp duty value must not exceed 45 lakh rupees, and the taxpayer must not own any residential property at the loan's sanction date. This deduction cannot be claimed under any other provision for the same interest.
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