There are calculators available online from various financial portals wherein you can find out about how much you can save on home loan tax deduction. The home loan tax saving calculator will have the following parameters.

  • Previous Financial Year
  • Current Financial Year
  • Select Category: Male/Female/Senior Citizen
  • Total Income for the year
  • Interest amount for the year
  • Principal paid for the year

By choosing relevant options and entering required information, you can click on the ‘Calculate’ option.  You will now get the results of Income Tax payable before home loan, after home loan and the Income Tax Benefit you have availed from the home loan. You can get the results for each financial year based on the choices given by you.

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