Tax Calculator

[Michael_16_nader]

I want to know difference in income tax to be paid if one is taking house loan.

[boxtops]

You don't get tax relief on mortgage payments these days - it makes no difference at all.

[boxtops]

Are you in India? The rules may be different there - this is a UK site.

[mazie]

Hi boxy...A bit of spamming going on I think

[boxtops]

I noticed that, several different OPs - I'm waiting for the accountancy advert :-)

[Peter Pedant]

you are about twenty yrs too late
You used to be able to get tax relief for this
but it ended in the eighties.


If you are letting properties then the interest on the mortgage of the house you are letting is deductible against the rents you are taking.

[factor-fiction]

You are correct for the UK, Peter Pedant, but I think the poster may well be talking about tax in India- we do seem to get quite a few.

[factor-fiction]

^This is illustrated by the two questions at the top of the Related Questions list below

[factor-fiction]

Is a separate tax form needed for joint claims though?