The Modi government is engaged in encouraging people to their homes. For this, the government is also running many schemes. You are also being given the benefit of exemption of up to Rs 2 lakh in income tax on home loan.
The Central Government had said in the year 2020-21 that, all the old regime of income tax on home loan will be applicable till the year 2024. Behind giving tax benefits, the government wants that more and more people should be given the benefit of affordable houses. With the help of the same tax benefit to the housing industry, the country's economy gets strengthened.