Salary deduction

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This discussion clarifies that Section 80EEA, which allows for interest deduction on low-cost housing loans, is indeed applicable for the Financial Year 2019-20. Furthermore, Section 80EEB, also related to interest deductions, is confirmed to be effective from the same financial year. These sections were introduced as part of the government's 'Housing for All' objective.

kiran

kiran (Querist)

14 January 2020 Dear Team,

whether I can get claim under section 80EEA for FY 2019-20 from salary income. Whether section 80EEA is applicable for FY 2019-20? Please help on this issue.

Regards,

Kiran.

Amol S Joglekar

Amol S Joglekar (Expert)

14 January 2020 Yes. It is applicable for Financial year 2019-20

kiran

kiran (Querist)

14 January 2020 Thank you sir for your valuable response

Amol S Joglekar

Amol S Joglekar (Expert)

14 January 2020 you are most welcome.

kiran

kiran (Querist)

14 January 2020 and what about section 80EEB?

Amol S Joglekar

Amol S Joglekar (Expert)

15 January 2020 80EEB is also applicable with effect from financial year 2019-20

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

15 January 2020 Under the objective “Housing for all”, the government has now extended the interest deduction allowed for low-cost housing loans taken during the period between 1 April 2019 and 31 March 2020. Accordingly, a new Section 80EEA has been inserted to allow for an interest deduction from AY 2020-21 (FY 2019-20)

Agreed with expert.

kiran

kiran (Querist)

15 January 2020 Thank you for your reply

Amol S Joglekar

Amol S Joglekar (Expert)

16 January 2020 you are most welcome.

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