as per 80EE if i took a loan and purchased a home 1st time in current financial yr
can i give loss from house property as minus xxx and also claim deduction of 50000 in 80EE
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80EE deduction
Replies (4)
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.
can i claim this for consecutive years .if so how many
Till the loan is paid-up, or any notification to that effect is issued.
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