It is also a good idea to redirect idle dollars and you can lumpy revenues like bonuses and you can maturing assets towards the prepayment out of financing. However, right here you should take into account the price of brand new loan. Whenever distinguishing the newest expensive funds to settle, look at the tax gurus into the certain loans. Doing Rs.dos lakh appeal paid off towards home loans is advertised while the an effective deduction around Point 24.
There is no maximum to your deduction having notice paid off for the training loans not as much as Point 80E.