80EE deduction

05 August 2018

Can 80 EE deduction be claimed for under construction phase assuming all other conditions are fulfilled

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3 Replies

CA Amit Kumar (Chartered Accountant) (346 Points)
Replied 05 August 2018

One of the condition for deduction under 80EE is:

the amount of loan sanctioned for acquisition of the residential house property does not exceed thirty-five lakh rupees;

which means the aforesaid deduction will not be available in case of construction.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (185269 Points)
Replied 05 August 2018

No........ can be availed only after aquisition i.e completion.

Ashish Modgil (43 Points)
Replied 05 August 2018

the word acquisition includes purchase as well as construction..... therefore it is allowed for purchase and construction of the property

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