mohammad tarique sohail (accountant) (196 Points)
27 November 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178301 Points)
Replied 28 November 2017
1. You both can avail the benefit of section 80EE, but subject to actual interest paid individually.
2. The benefit can be availed till the loan is repaid.
mohammad tarique sohail
(accountant)
(196 Points)
Replied 28 November 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178301 Points)
Replied 28 November 2017
In your case the interest of 1.75 lakhs can be deducted by either/both of you under section 24b itself.
No need to worry for section 80EE as your interest portion is just 1.75 lakhs (& the deduction limit u/s. 24b is 2 lakhs !!!).
The principal gets deducted u/s. 80C upto 1.5 lakhs alongwith other investments.
AND You cannot claim any excess amount than what you actually pay!!!
Sabita Sahoo
(622 Points)
Replied 23 March 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178301 Points)
Replied 23 March 2018
1. Yes he can claim interest deduction upto 2.00 lakhs under section 24(b)...... if payment made by him
2. He can get section 80EE benefit upto 50K, but should be eligible for it. Section 80EE benefit is available only to first time home buyers, & as and when specifically declared.
CAclubindia
