Whether individual tax payer who paid Interest on housing loan above 3 lakhs in a year can claim deduction under 24 B and Section 80 EEA?
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Deduction under 24 B and section 80 EEA
Replies (1)
YES (assuming that 80EEA conditions are fulfilled)
Limit u/s 80EEA: Max. 1.5 lakh [over and above interest on borrowed capital u/s 24(b)]
Total interest for the year > 2 lakh, then excess of 2 lakh under 80EEA but such excess should be ≤ 1.5 lakh
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