To be able to buy and live in one’s own house is a dream of many. But the increasing property rates are making it difficult to fulfill this dream without taking a loan; however, thanks to banks and several financial institutions that are providing home loans with easy and convenient EMI options.

Not only banks but the Government also provides several benefits to individuals availing a home loan. One of such benefits includes tax deduction from income of house property. Section 24 of the Indian Income Tax Act talks about such deductions.

What Are Taxable Incomes From House Property ?

As per the Income Tax Act, 1961, the following incomes are taxable under the Income from house property category.

  • Rental income from let out property
  • Annual value of self-occupied property stays Nil
  • Annual value of the property that is deemed to be out for income tax purpose.

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What Are Deductions Under House Property As Per Section 24?

  • Municipal tax deduction

    • The annual amount paid to the municipal corporation of the area is the municipal tax. These taxes are to be deducted from the gross annual value to get the net value of the house property. Deduction on municipal tax is granted if it is borne by the house owner and paid during that financial year.

  • Standard deduction 

    • 30% of the net annual value calculated is standard deduction. This is allowed when your expenditure on the property is higher or lower as well. It is irrespective of the expenditure that you incur on insurance, electricity, repairs, water supply, etc. The annual value is Nil for self-occupied property, and the standard deduction is zero in that case.

  • Deduction of interest on home loan for property 

    • Homeowners get to claim a deduction of up to ₹2 lakh on the home loan interest if their own family resides in that property. The same is applied when the house is vacant. In case you let out the property on rent, the entire interest on the home loan is allowed as a deduction.

Pre Construction Interest On Home Loan

You can claim a deduction on the interest of pre-construction when you take a loan for buying or constructing a house property. However, you cannot claim in case of repair or reconstruction. The total amount of pre-construction, including the interest on the housing loan to be claimed, should not exceed ₹2 lakh. The deduction on this interest is allowed in five equal instalments.

Conditions For Claiming Deduction On Home Loan

One must meet all of the following conditions to claim this deduction.

  • The loan must be taken after the 1st of April 1999 for purchase or construction purpose.
  • The construction or acquisition must be completed within 5 years.
  • For interest payable on the loan there is an interest certificate offered. Interest deduction may be limited to ₹30,000 in the following cases:
    • The loan is borrowed before 1st April 1999 for purchase, repair, reconstruction, construction purpose.
    • The loan is borrowed on or after 1st April 1999 for purchase, repair, reconstruction, construction purpose.

Computation Of Income Under House Property

TYPE OF HOUSE PROPERTY SELF OCCUPIED LET OUT
Gross annual Value (Rent paid- 7000*12) NIL 84,000
Less: Municipal Taxes or Taxes paid to local authorities NA 3,000
Net Annual Value(NAV) NA 81,000
Less: Standard Deduction(30% of NAV) NA 24,300
Less: Interest on Housing Loan 200,000 200,000
Less: Pre-construction interest (1/5th of 3 Lakhs) 60,000 60,000
Income from House Property (260,000) (203,300)
Overall loss restricted to (200,000) (200,000)

Note: The maximum loss set-offs allowed in one financial year is limited up to ₹2 lakh.

Tax Deduction Under Section 24

What is Section 24 of Income Tax?

Section 24 of the Indian Income Tax Act, 1961 takes into consideration the amount of interest an individual pay for home loans. This is also known as “Deductions from income from house property.” Basically, it allows you to claim tax exemptions on the interest amount of your home loan.

The maximum tax deduction limit under section 24 is Rs. 1, 50,000. And one does not have to particularly live in that house to be able to apply for tax deductions.
The income from house property is considered for tax deductions under the following circumstances.
  • If you are renting a house, then the rent amount is considered income.
  • If you have more than one house, then the net annual value of all the houses is considered as income.

However, if an individual has only one house and is living in that one, then the income from that property is considered nil.

Read also : Home Loan Tax Benefit Under Section 24

Deductions Under Section 24 of Income Tax

Following deductions are allowed under section 24 of the Indian Income Tax Act of 1961

Standard deduction under section 24:

Under this section, the standard deduction in income tax is 30 % of the Net Annual Value. However, this deduction is not applicable to the self-occupied house.

Interest on home loan:

Tax exemption is allowed on interest amount of property that is acquired, repaired, constructed, reconstructed, or renewed. So, if a loan is availed to carry out any such mentioned activity, then the interest on such loan is exempted and can be claimed as deduction under Section 24.

Important points to note before claiming the maximum deduction on home loan:

  • No income tax benefit is provided on brokerage or commission that one has to pay to middle agents.
  • If the house is not occupied by the taxpayer, then he/she can claim exemptions on the entire interest amount without any upper limit.
  • To be able to claim the maximum deduction, house-owner should purchase or finish construction of home within three years of taking a home loan.

What is Section 24 of the income tax act?

For many Indians, having their own home is a dream come true. As real estate prices rise quickly, it is becoming more difficult to own a home without a mortgage. Obtaining a home loan from a bank or other financial organisation is very simple. However, the loan has a high EMI, which comprises interest and principal.

The Indian government recognises the individual's suffering. Hence, it offers a tax break against the principal and interest payments. Such tax advantages or deductions for house loan interest are covered by Section 24 of the Income Tax Act.

The interest that a person pays on house or property loans is covered by Section 24 of the Income Tax Act. The phrase "Deductions from income from dwelling property" appears in this section. Loan interest and standard deduction are both allowable deductions.

You are eligible for tax exemptions under a number of sections of the Income Tax Act for particular investments and expenses. The purchase of residential property is one of the assets that the Act frequently emphasises. Numerous investments made to purchase your first house are exempt from taxes since the government acknowledges that housing is one of the most significant requirements and an asset.

Section 24, which enables you to request exemptions on the interest that you pay on house loans, is crucial when it comes to mortgages. You can also claim tax advantages for paying back the principal through Section 80C.

"Deductions from income from house property" is the title of Section 24. In the following circumstances, income from residential property is applicable:

a) If you rent out your home(s), then the rent you receive will be counted toward your income.

b) If you own more than one home, then the Annual Net Value of all of your homes—aside from the one you live in—will be counted toward your income.

If you just have one home and live there, then the income from that property will be deducted from your total income. After Section 24 deductions are taken into account, all rental income, as well as the annual value of additional homes, will be taxed.

What are the Deductions under Section 24 of the income tax act?

According to Section 24 of the Income Tax Act, there are two different tax deductions:

a) Amounts up to 30% of the net yearly value are exempt from taxation under this exemption, which is available to all taxpayers. If you live in the sole residence you own, then this rule does not apply to you.

b) Interest paid on loan: If you borrowed money to buy, build, or renovate a home, then the interest you paid on the loan's principal amount is not subject to taxation. Subclauses in this group include:
1) You may be eligible for exemptions of up to Rs. 2 Lakhs if the loan was taken for a self-occupied property.
2) You could still claim the interest if you borrowed money to build or buy a property (not renovate), even if you didn't really build or finish building it. In five equal instalments starting in the year the house is purchased or the construction is finished, you can claim a deduction for the interest paid before the purchase or construction is finished.
3) You cannot claim a tax exemption for a loan used to renovate or rebuild a home until the work is finished.

In order to qualify for this deduction, you must separately calculate the interest payment you need to make to the bank or other financial institution from which you borrowed the money. You are eligible for an exemption for the total annual interest amount whether or not you have paid the financier the specified sum.

What are the exceptions under Section 24 of the income tax act?

Here are the exceptions under Section 24:

a) If the home is vacant, then you are eligible for an exemption from payment of any interest, up to an unlimited amount.

b) Consider a scenario in which you do not reside in the home because you work or conduct your business in another town, and you instead buy or rent a home at the location of your employment. Then, you may only claim Rs. 2 Lakhs tax exemption on interest payments.

c) For securing the loan or renter, there is no deduction for brokerage or commission.

d) For you to be eligible to deduct the maximum amount of loan interest, you must purchase the house or finish building it within three years of availing of the loan. You can only claim Rs. 30,000 rather than Rs. 2 Lakhs if the construction or acquisition is not finished within three years.

e) For the loan you are taking, an interest certificate is required.

What are the conditions for claiming Interest on Home Loan?

To be eligible for this deduction, you shall satisfy the three requirements listed below.

a) After April 1, 1999, the purchase or construction for which the loan was obtained.

b) The acquisition or construction is finished within five years (3 years until FY 2015–16) following the end of the fiscal year in which the loan was taken.

c) An interest certificate for the loan is easily accessible. Your interest deduction can be limited to Rs. 30,000 if one or more of these conditions is true.
1) The real estate was purchased, constructed, repaired, or rebuilt with the loan before April 1, 1999.
2) The loan is obtained on or after April 1, 1999, and is employed to purchase, construct, renovate, or rehabilitate real estate for a residence.

What is Section 80EE Of the Income Tax Act?

In accordance with Sections 24 and 80EE of the Income Tax Act, taxpayers may claim an extra deduction of up to Rs. 50,000 by meeting specified requirements.

An assessee may claim a tax deduction for loan interest paid when determining total income. But only under the following circumstances:

a) A home loan is obtained just to buy a residence for personal use.

b) The taxpayer shall not have any other residential property as of the sanction date.

c) They obtain a loan from a financial institution to purchase a residential home.

d) The loan must be approved between the dates of April 1, 2016, and March 31, 2017, inclusive.

g) The house's total property worth is less than Rs. 50 Lakhs.

f) The loan sanction amount for the purchase of a residential home property is less than Rs. 35 Lakhs

Both sections allow an assessee to make a tax deduction claim. You just need to meet the requirements in both areas. First, make a claim for up to Rs. 2 Lakhs in tax advantages under Section 24. Additionally, utilise Section 80EE to collect the subsequent Rs. 50,000 in home loan interest. You can ensure you receive a deduction of a total of Rs. 2,50,000 in interest this way.

  1. What is deduction under 24A?

    2. Section 24 contains a list of deductions available to those who earn income from house property.

    Section 24A contains the provisions of the standard deduction available to taxpayers who earn income from rented house property. This section provides a standard deduction of 30% on the net annual value of the rented house property. This exemption is not available for self-occupied properties.

    The idea of allowing a flat 30% deduction was to cover any maintenance charges of the property and offer hassle-free tax computing solutions to the taxpayers. Additionally, the municipal taxes and home loan interest paid can also be deducted from the net annual value of the rented house property.

    The net annual value of the rented house property is the annual rent received from the house property.

  2. How to claim both 80EE and section 24?

    3. Both Section 24 and Section 80EE offer deductions to reduce the income from house property. These deductions are especially useful to claim deductions when the taxpayer has a home loan. These deductions are allowed on home loan interest paid.

    Section 80EE is a special deduction of an additional Rs. 50,000 allowed to taxpayers who meet the following conditions:

    1. The home loan is taken for a self-occupied property purchased for personal use
    2. The taxpayer should not have any other house property on the date of home loan sanction
    3. The loan should be from a financial institution.
    4. The loan must be approved between April 01, 2016, to March 31, 2017,
    5. The value of the house property must be less than Rs. 50 lakhs
    6. The loan sanction amount must be less than Rs. 35 lakhs

    Section 24 allows a Rs. 2 lakh deduction on the home loan interest paid whether the property is self-occupied or let out. In case the property is rented out, there is no cap of Rs. 2 lakhs and the entire interest paid on the home loan can be claimed as a deduction.

    To claim both deductions under Section 80EE and Section 24, all of the conditions should be met. The maximum deduction available on both sections together is Rs. 2.5 lakhs. Section 24 is claimed as a deduction under income from house property while filing income tax returns. Section 80EE is claimed as a deduction under the head ‘Deductions Under Chapter VI’ while filing income tax returns.

    The home loan repayment schedule and tax certificates are the documents that can be submitted as proof of investment to claim the deductions.

  3. What is the difference between Section 24 and 80EE?

    4. Section 80EE is a special section added to allow an additional deduction on home loan interest to taxpayers who have a home loan and a self-occupied property. However, this was only available to taxpayers who took a home loan from a financial institution between April 01, 2016, and March 31, 2018. The maximum deduction of home loan interest that can be claimed under this section is Rs. 50,000.

    Section 24B allows the deduction of home loan interest from their house property, whether it is rented out or self-occupied. However, in the case of self-occupied property, the deduction is capped at Rs. 2,00,000.

    Deductions under Section 24 are available for all types of home loan interest, whereas deduction under Section 80EE is only available for those who meet the specific criteria.

    Deduction under Section 80EE is claimed from Chapter VI deductions, and deduction under 24 is claimed under income from house property.

  4. How to claim tax benefits on a home loan?

    5. There are a number of ways in which a taxpayer can claim benefits on a home loan. The tax benefits available for a self-occupied property are different from the tax benefits available for a rented-out property.

    Tax benefits for a self-occupied property

    1. The net annual income from house property will remain nil.
    2. The taxpayer can deduct the property paid in that financial year from the net annual income under income from the house property. Since the income is nil, this entire amount is available as a deduction.
    3. The taxpayer can claim a deduction of home loan interest under Section 24B up to Rs. 2,00,000. This will also be deducted from the income from the house property section.
    4. The taxpayer can claim a deduction of the principal amount paid against the home loan. This deduction is available under Section 80C. However, the total limit for deduction under Section 80C is Rs. 1,50,000. Therefore, taxpayers must be careful and check the other investments that give them deductions under Section 80C.
    5. If the taxpayer meets the criteria to avail the deduction under Section 80EE, then an additional Rs. 50,000 deduction can be availed.

    Tax benefits for a rent-out property,

    1. The net annual income from the house property will be the annual rental income from the house property.

    2. The taxpayer gets a standard deduction of 30% on the net annual income.

    3. The taxpayer can deduct the property paid in that financial year from the net annual income.

    4. The taxpayer can claim a deduction of the entire home loan interest under Section 24B. This will also be deducted from the income from the house property section.

    5. The taxpayer can claim a deduction of the principal amount paid against the home loan. This deduction is available under Section 80C. However, the total limit for deduction under Section 80C is Rs. 1,50,000. Therefore, taxpayers must be careful and check the other investments that give them deductions under Section 80C.

    6. If the taxpayer meets the criteria to avail the deduction under Section 80EE, then an additional Rs. 50,000 deduction can be availed.
    Section 80C to Section 80U deductions are available as Deductions under Chapter VI. The others will be deducted from the income from the house property and could appear as negative income, which is then set off against other eligible sources of income.

  5. Can we claim 24B for an under-construction property?

    6. As per Section 24B, if a taxpayer has taken a home loan for a property that is under construction, the taxpayer can claim a deduction of the home loan interest subject to certain conditions being met, which are as follows:

    1. This type of interest is called pre-construction interest and can only be claimed after the construction of the property is completed.

    2. The pre-construction interest can only be claimed in 5 equal annual instalments. For example, if a taxpayer paid interest on a home loan for 2 years amounting to Rs. 2,50,000, while the property was being constructed, the taxpayer can claim this pre-construction interest as a deduction in 5 equal instalments of Rs. 50,000 in each year after the construction has been completed.

    3. The construction of the property should be completed within 5 years. Otherwise, the permissible deduction will be limited to Rs. 30,000.

    4. If it is a self-occupied property, the maximum deduction on home loan interest available is Rs. 2,00,000 per year. Therefore, the total of the pre-construction interest instalment of that year plus the actual interest on the home loan paid in that year cannot exceed Rs. 2 lakhs.


  6. Is a plot loan eligible for tax exemption?

    7. Buying a plot of land does not categorise as income from house property, and therefore, the deductions under Section 24 are not available. However, the principal component of the loan taken to buy the plot of land can be claimed as a deduction under Section 80C up to a maximum limit of Rs. 1,50,000.

  7. Can we claim both HRA and a home loan?

    8. A taxpayer can claim both House Rent Allowance (available as part of salary) and home loan-related deductions only if the taxpayer is working in a different city and staying on rent while the home loan is taken for a house property in a different city where the family of taxpayer resides. If the taxpayer stays in a rented accommodation and has rented out a house property against which the home loan is taken, both HRA and home loan deductions can be claimed, provided the income is shown properly.

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The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.




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Although all efforts are made to ensure that information and content provided as part of this Website is correct at the time of inclusion on the Website, however there is no guarantee to the accuracy of the Information. This Website makes no representations or warranties as to the fairness, completeness or accuracy of Information. There is no commitment to update or correct any information that appears on the Internet or on this Website. Information is supplied upon the condition that the persons receiving the same will make their own determination as to its suitability for their purposes prior to use or in connection with the making of any decision. Any use of this Website or the information is at your own risk. Neither ABCL and ABC Companies, nor their officers, employees or agents shall be liable for any loss, damage or expense arising out of any access to, use of, or reliance upon, this Website or the information, or any website linked to this Website.

No Liability

This Website is provided to you on an "as is" and "where-is" basis, without any warranty. ABCL, for itself and any ABC Companies and third party providing information, Materials (defined later), facilities, or content to this Website, makes no representations or warranties, either express, implied, statutory or otherwise of merchantability, fitness for a particular purpose, or non-infringement of third party rights, with respect to the website, the information or any products or facilities to which the information refers. ABCL will not be liable to you or any third party for any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages, arising from or connected with the site, including but not limited to, your use of this site or your inability to use the site, even if ABCL has previously been advised of the possibility of such damages. Any access to information hosted on third party websites of billers/banks/merchants/ABC Companies etc. is not intended and shall not be treated as an offer to sell or the solicitation of an offer to buy any product/offering of these ABC Companies or third parties.

The Facilities Provider or ABCL or ABC Companies shall have absolutely no liability in connection with the information and Material posted on this Website including any liability for damage to your computer hardware, data, information, materials, or business resulting from the information and/or Material or the lack of information and/or Material available on the Website. In no event shall ABCL or ABC Companies shall be liable for any for any special, incidental, consequential, exemplary or punitive damages for any loss, arising out of or in connection with (a) the use, misuse or the inability to use this Website; (b) unauthorized access to or alteration of your transmissions or data; (c) statements or conduct of any third party on the site; or (d) any other matter whatever nature relating to this Website.

Further, the Facilities Provider cannot always foresee or anticipate technical or other difficulties. The facilities may contain errors, bugs, or other problems. These difficulties may result in loss of data, personalization settings or other facilities interruptions. The Website does not assume responsibility for the timeliness, deletion, mis-delivery, or failure to store any user data, communications, or personalization settings.

The Facilities Provider, ABCL, ABC Companies and the providers of information shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained at this Website.

Manner of Use of Personal Information

All Personal Information including Sensitive Personal Information provided/related to you, shall be stored/used/processed/transmitted expressly for the Purpose or facilities indicated thereon at the time of collection and in accordance with the Privacy Policy. Other than those otherwise indicated and agreed by You, this Website do not collect or store or share your Personal Information. Aditya Birla Capital is the brand and accordingly all products and facilities are provided by respective ABC Companies as applicable. Therefore, for any of these Purposes, the Website will use ABC Companies their authorized third party vendors, agents, contractors, consultants or facilities providers (individually a ‘Third Party Service Provider’ and collectively, the “Third Party Service Providers”) and to that extent you understand and authorize the Facilities Provider to share/transmit such information to Third Party Service Providers. Such sharing of information will be solely for the purpose to fulfill / complete / authenticate your specific requests/transaction execution and for providing information about any ABC Companies product or facilities or services or for data analytics or to deliver to you any administrative notices, alerts or communications relevant to your Purpose (and which may include sending promotional emails or SMS or calls or any other mode permitted under law) or to analyze the usage and improve the facilities/solutions offered or for any research or troubleshooting problems, detecting and protecting against errors or to improve features, tailor the facilities on the Website to your interests, and to get in touch with you whenever necessary.

Except in the manner as stated in the Privacy Policy, the Website will not disclose your Personal Information with any affiliated or unaffiliated third parties,

You may receive e-mails /communications/notifications from the Third Party Services Providers regarding facilities updates, information/promotional e-mails/SMS and/or update on new product announcements/services in such mode as permitted under law.

Use of Website in India

This Website is controlled and operated from India and there is no representation that the Materials/information are appropriate or will be available for use in other locations. If you use this Website from outside the India, you are entirely responsible for compliance with all applicable local laws. There is no warranty or representation that a user in one region may obtain the facilities of this website in another region.

Information published on the Website may contain references or cross references to products, programs and facilities offered by ABC Companies/third parties that are not announced or available in your country. Such references do not imply that it is intended to announce such products, programs or facilities in your country. You may consult your local advisors for information regarding the products, programs and services that may be available to you.

In your use of the Website, you may enter correspondence with, purchase goods and/or facilities from, or participate in promotions of advertisers or members or sponsors of the web site, including those of ABC Companies. Unless otherwise stated, any such correspondence, advertisement, purchase or promotion, including the delivery of and the payment for goods and/or facilities, and any other term, condition, warranty or representation associated with such correspondence, purchase or promotion, is solely between you and the applicable ABC Companies and/or third parties.

You agree that Facilities Provider / ABC Companies has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any other ABC Companies and/or third parties.

Third party websites

This Website may be linked to other websites (including those of ABC Companies) on the World Wide Web that are not under the control of or maintained by ABCL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, facilities and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any facilities and/or products available through any of these websites are suitable for your purposes. The Facilities Provider or ABCL is not responsible for the owners or operators of these websites or for any goods or facilities they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).

USE of APP

In case any facilities/services, access/dissemination of information or execution of transaction is done through use of any APP related to ABC Companies, the additional terms and conditions governing the Use of APP shall be applicable and to be read along these Terms of Use.

Postings and monitoring

The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. You agree that in such cases, we will respond in any way that, in our sole discretion, as deemed appropriate. You acknowledge that Facilities Provider or ABC Companies will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, ABC Companies/Facilities Provider will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the internet.

Submissions and unauthorized use of any Materials contained on this Website may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party.

We reserve the right to terminate access to this Website at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms of Use. Upon termination, you must immediately destroy any downloaded and printed Materials.

If you come across any breaches/violation or offensive material you must report to us at abc.secretarial@adityabirla.com

Use of Cookies

You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.  

Facilities Changes and Discontinuation

The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. You agree that the Facilities Provider/ ABC Companies will not be liable to you in any manner whatsoever for any modification or discontinuance of the facilities. The format and content of this Website may change at any time. We may suspend the operation of this Website for support or maintenance work, in order to update the content or for any other reason.

ABCL, ABC Companies, and its directors, employees, associates, or other representatives shall not be liable for any damages or injury, arising out of or in connection with the use, or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to a computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reason whatsoever. The Website will not be responsible for any liability arising out of delay in providing any information on the Website.

Compliance with the Law

You agree that you will not:

  • Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
  • Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers
  • Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
  • Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
  • You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others.

Restrictions on Commercial Use or Resale

Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities. Any feedback you provide will become the confidential and proprietary information of the Website, and you agree that the Website may use in any manner and without limitation, all comments, suggestions, complaints, and other feedback you provide relating to the Website. The Website shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use feedback for any purpose, including but not limited to incorporation of such feedback into the Website or other Website software or facilities.

No Endorsements

All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. The Website would require you to respect the same. References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Website’s endorsement, sponsorship or recommendation of the third party, information, product or facilities.

Promotional Offers

You may receive from time to time, announcement about offers with intent to promote this Website and/or facilities/products of ABC Companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.

Charges for use of Website

There are no charges or fees to be paid by you for use of this Website. However, you are responsible for all telephone access fees and/or internet service fees that may be assessed by your telephone and/or internet service provider. You further agree to pay additional charges, if any levied by Third Party Service Provider(s), for the facilities provided by them through the Website (Additional Charges).

No Endorsement

You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. From this Website, users may visit or be directed to third party web sites. The Website makes no effort to review the content of these web sites, nor is the Website or its licensors responsible for the validity, legality, copyright compliance, or decency of the content contained in these sites.

In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. You acknowledge that the Website does not pre-screen content, but that the Website will have the right (but not the obligation) in their sole discretion to refuse, edit, move or remove any content that is available via the facilities.

Electronic Communications

These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Electronic communications may be posted on the Website and/or delivered to your registered email address, mobile phones etc either by Facilities Provider or ABC Companies with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the Facilities Provider shall have the right to terminate the facilities.

Assignment

You shall not assign your rights and obligations under this Agreement to any other party. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.

Legal Disclaimers

The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. Any information may be prone to shortcomings, defects or inaccuracies due to technical reasons. Certain information on Website may be on the basis of our own appraisal of the applicable facts, law and regulations in force at the date hereof.

The information (and opinions, if any) contained on the Website may have been obtained from public sources believed to be reliable and numerous factors may affect the information provided, which may or may not have been taken into account. The information provided may therefore vary (significantly) from information obtained from other sources or other market participants. Any reference to past performance in the information should not be taken as an indication of future performance. The information is dependent on various assumptions, individual preferences and other factors and thus, results or analyses cannot be construed to be entirely accurate and may not be suitable for all categories of users. Hence, they should not be solely relied on when making investment decisions. Your investment or financial decision shall always be at your own discretion and based on your independent research; and nothing contained on the Website or in any information would construe ABCL/ABC Companies or any of its employees/authorized representative as having been in any way involved in your decision making process. Any information and commentaries provided on the Website are not meant to be an endorsement or offering of any stock or investment advice.

Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and Facilities Provider / ABCL/ABC Companies makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. Information on this Website sourced from experts or third party service providers, which may also include reference to any ABCL Affiliate. However, any such information shall not be construed to represent that they belong or represent or are endorsed by the views of the Facilities Provider or ABC Companies. Any information provided or sourced from ABCL Affiliate belongs to them. ABCL is an independent entity and such information from any ABCL Affiliate are not in any manner intended or to be construed as being endorsed by ABCL or Facilities Provider. The information does not constitute investment or financial advice or advice to buy or sell, or to endorse or solicitation to buy or sell any securities or other financial instrument for any reason whatsoever. Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type. Investment in the securities market and any financial instruments are inherently risky and you shall always assume complete and full responsibility for the outcomes of all the financial or investment decisions that you make, including but not limited to loss of capital. You are therefore advised to obtain your own applicable legal, accounting, tax or other professional advice or facilities before taking or considering an investment or financial decision.

No Solicitation

No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. ABCL or any of its employees are in no way liable for the use of the information by you, when making any decision or investing or trading through any investment vehicles or ABC Companies, or any other third party which may be engaged in offering of these services.

The information contained on this Website does not represent and should not be used to construe (i) the terms on which a new transaction would be entered into by ABCL or ABC Companies, (ii) the terms on which any existing transactions could be unwound by ABCL or ABC Companies, (iii) the calculation or estimate of an  amount that would be payable following an early termination of any past/existing transactions or (iv) the valuations given to any transactions by ABCL or ABC Companies in their books of account for financial reporting, credit or risk management purposes.

Statutory Disclosure

ABCL and ABC Companies are engaged in a broad spectrum of activities in the financial services sectors. You understand and acknowledge that Aditya Birla Money Limited (‘ABML’), Aditya Birla Finance Limited (‘ABFL’) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (‘ABSLMF’) are group companies and ABML / ABFL also acts as a distributor of ABSLMF.  Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.

Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations.

Force Majeure

The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.

Indemnification

You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs (including but not limited to reasonable attorneys fees) caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.

No Waiver

The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Exclusive Agreement

You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and the Facilities Provider and its Third Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank.

Termination

Either party can terminate this Agreement by notifying the other party in writing. Upon such termination You will not be able to use the facilities of this Website.

Governing Law and Jurisdiction

The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.

These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes.

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