EMI moratorium is given by the RBI because of this pandemic outbreak. And this will include all terms loans and credit cards. But you have to pay some interest amount for the same. You will have to pay the interest which is outstanding for the same.
But this will affect your tax deduction benefit you are going to avail. The tax benefit you will get on your home loan principal repayment will reduce if you are going to take the moratorium offered by the government. The deduction you are going to get on interest repayment will stay like it is if you are not going to pay the interest amount in this year.
On this, Sudhakar Sethuraman, partner of Deloitte India said- “As per Section 80C, deduction (on principal repayment) can be claimed only on actual payment. Therefore, the deduction cannot be claimed on the principal outstanding during the moratorium period,”