Housing loan

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vivekraj (Querist)
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28 May 2017 How the sec 24, 80C& 80EE are different each other? How they are treated in IT act?

Who can claim ded. u|s 80EE? ; only person buying first time? If me (unmarried) and my unmarried brother buy or construct a new house separately, do me and my bro both get ded. separately?
Do our marriage does any thing\ differs with this treatment???

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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29 May 2017 Sec 24 is for deduction if interest on loan while calculate incime from head House property.
Repayment of housing loan(principal amt) is eligible for deduction u/s 80C from Gross Total Income(total of income of all head)
Any interest remain unclaimed u/s 24 is allowed u/s 80EE subject to conditions maximum upto Rs 50000/-.

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