80EE deduction

First time Home Buyers can claim an additional Tax deduction of up to Rs 50,000 on home loan interest payments u/s 80EE. The below criteria has to be met for claiming tax deduction under section 80EE.

• The home loan should have been sanctioned during / after FY 2016-17.
• Loan amount should be less than Rs 35 Lakh.
• The value of the house should not be more than Rs 50 Lakh &
• The home buyer should not have any other existing residential house in his name.

"can i give loss from house property as minus xxx and also claim deduction of 50000 in 80EE"

YES.

Because All the deductions under chapter VI-A are independent of any source of income and are deductible from taxable income.

Till the loan is paid-up, or any notification to that effect is issued.