How to declare interest on housing loan on Keka?

When you take a home loan the interest that you pay to the bank can be declared up to a limit for Tax Saving. There are 3 sections that can help you save tax on the interest on Home loan. They are 80 EE, 80EEA and 24 (b). Based on your eligibility you can declare the interest in these sections. To check your eligibility you can refer here: https://incometaxindia.gov.in/Charts%20%20Tables/Deductions.htm 

1) 80 EE and 80 EEA

Go to My Finances (1) and select Manage Tax (2). Here under Declarations search for Other Deductions (2).

Now scroll down and you will find 80 EE and 80 EEA Declarations. You can use the Edit Icon available to Add the Declarations.

Enter the Amount and Upload the Document Proof. Once Done you can Save it.

2) 24 (b)

Now to declare under 24 (b) go to My Finances (1) and select Manage Tax (2). Here under Declarations you will see House Property (3).

Then under I own residence click Add own Residence.

In the window, select one of the three Self Occupied, Let out Property or Both. Based on what you select the options in the next page change. Now click Next.

When you select Self Occupied or Both, enter the Address and check the box I have paid interest on loan amount for this property. Then select the Purpose of Loan, Interest amount, Lender Name, Lender Pan and Upload the Proof. Once done you can Save.

In case you select Let out property, Enter the Annual Lettable Value, Muncipal Tax Paid, Unrealized Rent and the Address. Then check the Box, I have paid interest on loan amount for this property and select the Purpose of Loan, Interest on Loan Amount, Lender Name, Lender PAN and Upload the Proof. Once done you can click Save. 

Hope the process to declare interest on House property is now clear. Need more help? You can refer to the other articles available or Contact us!