This document compares the tax implications of taking a housing loan versus not taking one. It shows that taking a housing loan for self-occupation after April 1, 1999 allows the interest paid on the loan to be deducted, reducing tax liability. The document provides an example where tax liability is reduced from Rs. 54,000 to Rs. 14,000 by deducting interest of Rs. 1,50,000 paid on a housing loan. It also discusses additional deductions possible if rental income is generated from the property.