ITR: With the onset of the new financial year 2025-26, salaried employees in India shift their focus to claiming tax benefits on their loans. Among this, the home loan interest payment saves them a substantial amount. Form 12BB plays a crucial role in saving taxes when filing taxes. As per the Income Tax Department under Section 192, Form 12BB is filed by employees to their employers as a declaration of tax-saving claims, including home loan interest.By filing Form 12BB along with the home loan interest certificate from your bank, you can take a deduction of up to Rs 2 lakh under Section 24(b) of the Income Tax Act for the interest paid on your self-occupied property. This tax benefit is applicable if you've borrowed a loan on or after 01-04-1999 and the acquisition or construction of your house is completed within 5 years.The procedure for claiming tax benefits for a home loan is simple: provide your PAN and job details, identify your home loan account, and upload the documents required. Your employer will then include the exemption in your Tax Deducted at Source (TDS) calculation, so you don't end up paying more tax during the year. Otherwise, you could lose out on the exemption or end up claiming a refund later when you file your income tax return.Form 12BB also enables employees to report other qualifying payments, like tuition fees or life insurance premiums. But in the case of home loan borrowers, interest exemption is mostly the biggest tax-saving opportunity.The Income Tax Department's guidelines state unambiguously: timely and accurate furnishing of Form 12BB would help maximise your in-hand salary and ease year-end tax filing for all salaried taxpayers. So be vigilant when filing your taxes, with the right claim, you can save on your taxes this financial year.(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)