Hi. My house loan was sanctioned in FYY 17-18. However as per sec 80EE loan must be sanctioned in FY 16-17. My loan in below 35Lacs, property is below 50Lacs. but loan was sanctioned in may 2017. Can i use sec 80EE. also its my first property.
Hadden Katerput (8 Points)
06 April 2018Hi. My house loan was sanctioned in FYY 17-18. However as per sec 80EE loan must be sanctioned in FY 16-17. My loan in below 35Lacs, property is below 50Lacs. but loan was sanctioned in may 2017. Can i use sec 80EE. also its my first property.
CA Rashmi Gandhi
(Chartered Accountant)
(86298 Points)
Replied 06 April 2018
CA Rashmi Gandhi
(Chartered Accountant)
(86298 Points)
Replied 06 April 2018
Hadden Katerput
(8 Points)
Replied 06 April 2018
Rahul Prajapati
(Student)
(2282 Points)
Replied 06 April 2018
There are a set of conditions that you must satisfy before you go on to claim the benefit under this section –
But, in your case, loan is sanctioned on May 2017, Therefore you can't in section 80EE.
Also, You can take deduction U/S 24 of Income Tax Act, for Interest Payment and U/S 80C for Repayment of Principal Amount.
tripti
(ca article)
(209 Points)
Replied 06 April 2018
You can't claim deduction under Sec 80EE because for claiming deduction loan should be sanctioned during F.Y 2016-17
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