Many people who have opted for EMI moratorium on home loan, don’t know that it can also impact the tax deductions one can claim against the principal repayment and interest outstanding. However, the net impact on the tax liability will be a function of both the interest payable for the relevant year and the principal repayment actually made for the year subject to the overall limits allowed. We tell you the likely impact of EMI moratorium on your tax deduction in case you have a home loan.
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