Income tax return
This query is : Resolved
06 November 2014
Res. Sir,
My Client is salaried person having a taxable income crossing max. limit of exemption, He has been paid the Int. on Home Loan during the fin, year 13-14. He has not any other source of Income Except "Income From Salary".
To claim deduction for payment of Int. on Home loan, What he Should do ? whether he can claim deduction u/s 80EE or He should go for Income From House Property and Claim Deduction u/s 24 ??
Which option is more relevant ??
Hope for the Quick and positive reply from the experts.
Thanks.
My Client is salaried person having a taxable income crossing max. limit of exemption, He has been paid the Int. on Home Loan during the fin, year 13-14. He has not any other source of Income Except "Income From Salary".
To claim deduction for payment of Int. on Home loan, What he Should do ? whether he can claim deduction u/s 80EE or He should go for Income From House Property and Claim Deduction u/s 24 ??
Which option is more relevant ??
Hope for the Quick and positive reply from the experts.
Thanks.
06 November 2014
Pl remember that
i) cap under 80EE is one lakh and in 24(b) one lakh fifty thousand.
ii) 80EE can apply only if conditions as in sub section (3) is complied with.
i) cap under 80EE is one lakh and in 24(b) one lakh fifty thousand.
ii) 80EE can apply only if conditions as in sub section (3) is complied with.
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