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about section 80ee

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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4 Replies

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 21 August 2019

Yes... If You are eligible as per sec 80EE.

Ramakoti Amara (133 Points)
Replied 21 August 2019

that's what my doubt is. Am I eligible or not as per the details given above.

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 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) (578 Points)
Replied 21 August 2019

Section 80EE - Deduction on Home Loan Interest

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.