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80ee home loan rebate
in budget 2016-17, 50k additional tax deduction can be taken by first time buyers on home loan. if yes, then I've filed the return of said year and I was first time buyer in same year. can I claim 50 k deduction now. if yes, pls tell the process
Replies (6)
yes you revise your return and claim deduction u/s. 80ee
for claiming benefit of sec 80EE
check if you comply with following condition:
(a) Loan from Financial institution has been sanctioned between 1.4.2016 to 21.3.2017
(b) You are not OWNING any other residential house property on date of sanction of LOAN
(c) Loan taken does not exceed 35 Lac
(d) Value of House property purchased does not exceed 50 Lac
if you cumulatively comply with ALL above condition then you can claim 80EE benefit
check if you comply with following condition:
(a) Loan from Financial institution has been sanctioned between 1.4.2016 to 21.3.2017
(b) You are not OWNING any other residential house property on date of sanction of LOAN
(c) Loan taken does not exceed 35 Lac
(d) Value of House property purchased does not exceed 50 Lac
if you cumulatively comply with ALL above condition then you can claim 80EE benefit
yes you revise your return and claim deduction u/s. 80ee
I availed Rs.10 lacks home loan in March 2016, Rs.2 Lacks in April 2016 and Rs.6 Lacks in May 2016. My total amount was Rs.18 Lacks. Am I eligible for getting Rs. 50 k benefits.
It depends on the loan sanction date. If the loan is sanctioned before 1 April 2016 then you are not eligible.
but I believe it is both.... Sanction and Availing.In this case, I have availed Rs.6 lacks after 1st April, 2017
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