Ramakoti Amara 20 August 2019
I am a bank staff. I availed home loan last year and paying EMI. total portion of the EMI is credited towards principal amount and interest accrued is added to the remaining principal amount . this is because I am a bank staff.
now my doubt is whether I am eligible to claim deduction of my EMI s in section 80EE ?
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RAJA P M ("Do the Right Thing...!!!") 21 August 2019
Your query is just simple no more details about your house & loan... Please read sec 80EE eligible in the following link.... https://cleartax.in/s/section-80ee-income-tax-deduction-for-interest-on-home-loan
Kamal Verma (Financial advisor) 21 August 2019
Tax deduction under Section 80EE of the Income Tax Act 1961, can be claimed by first-time home buyers for the amount they pay as interest on home loan. The maximum deduction that can be claimed under this section is Rs. 50,000 during a financial year. The amount can be claimed over and beyond the deduction of Section 24 and Section 80C, which are Rs. 2,00,000 and Rs. 1,50,000, respectively.