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What is provisional home loan interest certificate?

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1 2021-09-23T18:39:16+00:00
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A home loan provisional interest certificate is a home loan account statement given by your lender. It includes the summary of the principal amounts and interest paid by you towards your housing loan for the given financial year. It acts as proof for tax deductions on the principal and interest paid. What is the Use of Home Loan Interest Certificate You must know that you can get tax deductions on EMI and the principal amount of a housing loan. As per the Income Tax Act’s Section 80C, you can claim the principal amount repaid by you as a deduction to a max. of Rs. 1.5 lakh. Additionally, the cap on the interest claim is Rs. 2 lakhs according to Section 24. Besides, registration fees and stamp duty charges can also be considered as deductions. If you want to take advantage of these tax benefits on a housing loan, then you must submit your provisional home loan interest certificate when you file your returns. How to Obtain it: If you want to obtain a home loan interest certificate, then you can go to the nearest branch of your bank and ask the officials about the same. You will be required to provide them your loan account number and other documents like identity proof, etc. Alternatively, you can visit your bank’s official website and log in to your account. There you will find your provisional tax certificate and home loan summary statement among other important documents. I hope now you know what is provisional home loan interest certificate. How to get home loan interest certificate from SBI? How to close home loan early? How to repay home loan faster? How to reduce EMI of existing home loan? Seeking for Home Loan? Opt for NoBroker Home Loan and check out its criteria here [widget_homeLoan_checkEligibility_form]

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