Case 1 : 30 lakh loan taken for home

7% Without Sec 24 With Sec 24 Income through Tax saving

Annual Increase 1 165,000 112664 52,336
2 198,496 145173 53,323
3 233,283 181827 51,456
4 270,504 220916 49,588
5 310,332 262908 47,424
6 352,947 307916 45,031
7 398,545 356157 42,388
8 447,335 407866 39,469
9 499,540 463100 36,440
10 555,400 522719 32,681
11 615,169 586425 28,744
12 679,123 654727 24,396
13 747,554 727960 19,594
14 820,774 806487.0 14,287
15 899,120 890696 8,424
16 982,950 981002.0 1,948
17 1,070,700 1,070,700 0
18 1,168,686 1,168,686 0
19 1,398,454 1,398,454 0
20 1,519,386 1,519,386 0
Income through Rent EMI outgo Net loss or gain Interest component for 30 lakh loan
120000 -360,000 -187,664 297766
120000 -360,000 -186,677 292567
120000 -360,000 -188,544 286525
120000 -360,000 -190,412 280481
120000 -360,000 -192,576 273473
120000 -360,000 -194,969 265731
120000 -360,000 -197,612 257178
120000 -360,000 -200,531 247730
120000 -360,000 -203,560 237930
120000 -360,000 -207,319 225762
120000 -360,000 -211,256 213024
120000 -360,000 -215,604 198953
120000 -360,000 -220,406 183408
120000 -360,000 -225,713 166235
120000 -360,000 -231,576 147263
120000 -360,000 -238,052 126306
120000 -360,000 -240,000 103153
120000 -360,000 -240,000 77577
120000 -360,000 -240,000 49322
120000 -360,000 -240,000 18108

-4,252,471
Total Amount spent for buying home over 20 years
Laon Taken 3000000
Income from house Amount claimable under sec 24 for income tax
-177766 -177766
-172567 -172567
-166525 -166525
-160481 -160481
-153473 -153473
-145731 -145731
-137178 -137178
-127730 -127730
-117930 -117930
-105762 -105762
-93024 -93024
-78953 -78953
-63408 -63408
-46235 -46235
-27263 -27263
-6306 -6306
0 0
0 0
0 0
0 0
Case 1 : 30 lakh loan taken for home
7% Without Sec 24 With Sec 24 Income through Tax saIncome through R
Annual Increase 1 165,000 112664 52,336 120000
2 198,496 145173 53,323 120000
3 233,283 181827 51,456 120000
4 270,504 220916 49,588 120000
5 310,332 262908 47,424 120000
6 352,947 307916 45,031 120000
7 398,545 356157 42,388 120000
8 447,335 407866 39,469 120000
9 499,540 463100 36,440 120000
10 555,400 522719 32,681 120000
11 615,169 586425 28,744 120000
12 679,123 654727 24,396 120000
13 747,554 727960 19,594 120000
14 820,774 806487.0 14,287 120000
15 899,120 890696 8,424 120000
16 982,950 981002.0 1,948 120000
17 1,070,700 1,070,700 0 120000
18 1,168,686 1,168,686 0 120000
19 1,398,454 1,398,454 0 120000
20 1,519,386 1,519,386 0 120000

Total Amount spent for buying h

Laon Taken
 EMI outgo Net loss or g Interest compoIncome from Amount claimable under sec 24 for income tax
-360,000 -187,664 297766 -177766 -177766
-360,000 -186,677 292567 -172567 -172567
-360,000 -188,544 286525 -166525 -166525
-360,000 -190,412 280481 -160481 -160481
-360,000 -192,576 273473 -153473 -153473
-360,000 -194,969 265731 -145731 -145731
-360,000 -197,612 257178 -137178 -137178
-360,000 -200,531 247730 -127730 -127730
-360,000 -203,560 237930 -117930 -117930
-360,000 -207,319 225762 -105762 -105762
-360,000 -211,256 213024 -93024 -93024
-360,000 -215,604 198953 -78953 -78953
-360,000 -220,406 183408 -63408 -63408
-360,000 -225,713 166235 -46235 -46235
-360,000 -231,576 147263 -27263 -27263
-360,000 -238,052 126306 -6306 -6306
-360,000 -240,000 103153 0 0
-360,000 -240,000 77577 0 0
-360,000 -240,000 49322 0 0
-360,000 -240,000 18108 0 0

-4,252,471
Amount spent for buying home over 20 years
5000000