13 August 2024
How can I avail 80EEA interest deduction in below scenario. Principle: 50,000/- Interest on Loan: 350,000/- LIC: 150,000/-
As mentioned above Can I avail deduction as below. 80C: 150,000/- (LIC & Loan Principle) 24: 200,000/- 80EEA: 150,000/- (Remaining amount to be claim for Interest on loan)
In short I want to understand how can I use this 80EEA section deduction.
13 August 2024
Yes, all these deductions can be claimed simultaneously, under Old tax regime, provided the housing loan taken during the period between 1 April 2019 and 31 March 2022 under affordable housing scheme.
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