Deduction Limit: Up to INR 1,50,000 annually on home loan interest. Can be claimed along with Section 24, providing a total benefit of up to INR 3,50,000 per year.
Joint Ownership: Each co-owner can individually claim deduction if all conditions are met.
House Property Conditions:
Carpet area not exceeding 60 sqm in metro cities or 90 sqm in other cities.
Applies to affordable housing projects approved after September 1, 2019.