Suppose interest on loan taken is 50,000 annually.
How would this interest be treated
u/s 24 and 80EE
In case of
i) House is let out
ii) House is self occupied throughout
iii) During Pre-construction period
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Deduction u/s 24 and 80EE
Replies (3)
in both 1&2 cases interest deduction will be up to 2lac p.a. as in case of let out property also interest is restricted to 2lacs which was actual earlier
no interest deduction allowed during pre construction period. however once construction is complete deduction in 5 equal installment is allowed in addition to yearly interest from the year previous to the year when construction is complete
no interest deduction allowed during pre construction period. however once construction is complete deduction in 5 equal installment is allowed in addition to yearly interest from the year previous to the year when construction is complete
good explanation sir ji
under section 80EE deduction in respect of loan taken for residential 🏠 up to 50000 but loan is sanction between 01/04/2016 to 31/03/17 loan not exceed 3500000 and house value up to 50 lakhs and u have not any other house on the sanction of loan
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