A person had bought a land and starting construction on it. He is willing to take home loan on construction of house.
Whether he will be allowed to claim interest U/s 80EEA if amount of yearly interest exceeds Rs. 2 lakh.
3 Replies
rama krishnan
(12239 Points)
Replied 12 June 2020
The loan should have been taken on or before 31/03/2020
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 25 July 2020
Section 80EEA deduction is available on loan taken for purpose of acquisition of a residential property, not construction of residential property
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