80 ee vs. 24(b)

This query is : Resolved

madhu (Querist)
Follow

03 January 2014 Difference between sec. 80 EE and 24(b) is not clear as far as its applicability is concerned since both the sections are related to interest on loan for residential property.

@VaibhavJ

@VaibhavJ (Expert)
Follow

03 January 2014 Hi

For 80EE:

1. The Loan is sanctioned between 1st April 2013 and 31st March 2014
2. The Amount of Loan sanctioned for the acquisition of Residential House Property does not exceed Rs.25,00,000
3. The Value of the Residential House Property does not exceed Rs. 40,00,000
4. The Assessee does not own any House Property on the date of sanction of Loan

Pl refer:

http://www.charteredclub.com/tax-benefit-on-home-loan/

Thanks//VaibhavJ