India, April 6 -- Planning to invest in property this financial year? Here are 5 things to keep in mind

"The exemption is the least of these values: Rs.2.1 lakh for Option 1 (HRA Rs.25,000), Rs.3.3 lakh for Option 2 (HRA Rs.35,000), and Rs.4.5 lakh for Option 3 (HRA Rs.50,000, capped at 50% of basic). The corresponding tax savings, calculated at 31.2% (30% + 4% cess), are Rs.65,520, Rs.1,02,960, and Rs.1,40,400 respectively,' says Surana.

The HRA Scenario table outlines the tax savings from HRA exemptions for three options.

"The 'Home Loan' table details the tax benefits for Year 1 of an Rs.80 lakh loan over 20 years at 8% interest, with an annual EMI of Rs.8,02,932.47. The interest for Year 1 is approximately Rs.6.37 lakh, but the ded...