06 January 2018
I took an home loan for the first time and its my first house too...i repayed rup 80000 as interst till now from 4 months...I want to know about 80EE Is anyway helpful for me...??
06 January 2018
(2) The deduction under sub-section (1) shall not exceed fifty thousand rupees and shall be allowed in computing the total income of the individual for the assessment year beginning on the 1st day of April, 2017 and subsequent assessment years. (3) The deduction under sub-section (1) shall be subject to the following conditions, namely:— (i) the loan has been sanctioned by the financial institution during the period beginning on the 1st day of April, 2016 and ending on the 31st day of March, 2017; (ii) the amount of loan sanctioned for acquisition of the residential house property does not exceed thirty-five lakh rupees; (iii) the value of residential house property does not exceed fifty lakh rupees; (iv) the assessee does not own any residential house property on the date of sanction of loan. (4) Where a deduction under this section is allowed for any interest referred to in sub-section (1), deduction shall not be allowed in respect of such interest under any other provision of this Act for the same or any other assessment year.
06 January 2018
(2) The deduction under sub-section (1) shall not exceed fifty thousand rupees and shall be allowed in computing the total income of the individual for the assessment year beginning on the 1st day of April, 2017 and subsequent assessment years. (3) The deduction under sub-section (1) shall be subject to the following conditions, namely:— (i) the loan has been sanctioned by the financial institution during the period beginning on the 1st day of April, 2016 and ending on the 31st day of March, 2017; (ii) the amount of loan sanctioned for acquisition of the residential house property does not exceed thirty-five lakh rupees; (iii) the value of residential house property does not exceed fifty lakh rupees; (iv) the assessee does not own any residential house property on the date of sanction of loan. (4) Where a deduction under this section is allowed for any interest referred to in sub-section (1), deduction shall not be allowed in respect of such interest under any other provision of this Act for the same or any other assessment year.
06 January 2018
could you please confirm whats the exact amount i get deduction under 80EE I satisfied all the conditions , provisional interest is 82000 exactly...principle is 94000
CAclubindia
