EMI Moratorium: Opting for home loan moratorium? How will this impact your tax benefits?

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July 2nd, 2020

Naveen Wadhwa, Deputy General Manager at Taxmann.com, said:

 
“If an individual has availed the moratorium in respect of payment of housing loan EMI, the deduction available to him under Section 24(b) or Section 80EEA shall not be impacted. These deductions are available on paid or payable basis. Meaning thereby that if any interest on housing loan is payable during the year, the deduction shall be available to him even if the interest is not actually paid during the relevant year. However, deduction under Section 80C shall not be available as it is available for the actual payment made towards repayment of the principal amount of the housing loan.”
 

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