Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Direct tax - Deduction

Parthesh (.) (72 Points)

16 November 2019

Is section 80eea introduced by closed benefits of section 80ee?

Reply
Follow
Share

1 Replies

Kapadia Pravin (17254 Points)
Replied 19 November 2019

Under 80EE (3)(i)
The interest Deduction is in respect of -
The loan which has been sanctioned by the financial institution during the FY 2016-2017.

Under 80EEA(3)(i)
The interest Deduction is in respect of -
The loan which has been sanctioned by the financial institution during the FY 2019-2020.

So both sections are alive as far as deduction of interest is concerned. But only this - section applicability depends on FY in which loan is sanctioned.

1 Like