What Can You Write Off When You Buy A House Apr 2026

Are you planning to or is it strictly an investment property ?

You can automatically deduct 30% of your Net Annual Value (rental income minus municipal taxes) for repairs and maintenance, regardless of how much you actually spent. what can you write off when you buy a house

Eligible first-time buyers in specific income brackets may receive a direct subsidy of up to ₹2.67 lakh , which is credited upfront to reduce your loan amount. 4. For Rental & Investment Properties Are you planning to or is it strictly an investment property

These one-time costs are deductible under Section 80C (within the ₹1.5 lakh limit) during the year you pay them. When you buy a house, you aren't just

Depending on when your loan was sanctioned (e.g., Sections 80EE or 80EEA), you might be able to claim an extra ₹50,000 to ₹1.5 lakh in interest beyond the standard ₹2 lakh limit.

When you buy a house, you aren't just getting a home; you’re unlocking several "tax superpowers" that can significantly reduce your taxable income. To get the most out of these, you typically need to file under the in India. 1. The Heavy Hitters (Section 24 & 80C)