Tax benefits on home loan interest in fy 2016-17
This query is : Resolved
10 October 2016
Home Loan interest is up to Rs - 2,00,000/- and Principal repayment up to Rs - 1,50,000/-
but Extra Deduction of Rs. 50,000 on Home Loan Interest ( 80 EE )
On witch condition this rule is applicable ?
but Extra Deduction of Rs. 50,000 on Home Loan Interest ( 80 EE )
On witch condition this rule is applicable ?
13 October 2016
1. this deduction is applicable from AY 2017-18 onwards and upto Rs. 50,000/-
2. loan should be sanctioned by a financial institution during the period from 1.04.2016-31.03.2017
3. loan sanctioned should not exceed 35 lakhs Rs
4. residential property for which loan issued does not exceed Rs. 50 lakhs
5. Assessee does not own any residential house property on the date of sanction of loan
2. loan should be sanctioned by a financial institution during the period from 1.04.2016-31.03.2017
3. loan sanctioned should not exceed 35 lakhs Rs
4. residential property for which loan issued does not exceed Rs. 50 lakhs
5. Assessee does not own any residential house property on the date of sanction of loan
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