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Deduction limit on interest on home loan

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(Querist)
22 April 2018 ITR 1 is auto calculating deduction limit on home loan under 80 EE. but limit is 200000. please clarify
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
22 April 2018 the limit is Rs 50000 only.....
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RAJA P M

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RAJA P M (Expert)
22 April 2018 As per sec 80ee limit is allowed Rs 50k. Also it's applicable only to 1st time home buyers. The 2lakhs limit is applicable u/s 24... Please go to refer this link you can get some clarity about Home Loan related deductions... https://cleartax.in/s/deductions-under-section24-income-from-house-property https://cleartax.in/s/section-80ee-income-tax-deduction-for-interest-on-home-loan
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