extra interest exemption for home loan can be availed if loan taken in which year?
i heard it was brought into force in 2013
Section 80EE was effective from the financial year 2013-14. It was available for only 2 years, FY 2013-14 and FY 2014-15 .The deduction allowed earlier was limited to a maximum of Rs 1 lakh in total and was available for only 2 financial years.
However, this section has been reintroduced effective FY 2016-17 (assessment year 2017-18).Now the deduction is allowed up to Rs 50,000 per year starting from FY 2016-17 and subsequent years, until the loan is repaid.
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