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Deduction u/s 80ee

Kamal Verma (Financial advisor) (578 Points)

17 January 2018

Dear Expert,

Mr. A has one house and want to purchase another house after taking home loan from nationalised bank, can he claim deduction u/s 80EE for interest paid on this home loan? Further he let out new house during the year, can he claim deduction u/s 24 & 80EE, if yes to what extent?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 17 January 2018

" Mr. A has one house and want to purchase another house after taking home loan from nationalised bank, can he claim deduction u/s 80EE for interest paid on this home loan? "

No...... Deduction u/s. 80EE allowed only for first house property.

" Further he let out new house during the year, can he claim deduction u/s 24 & 80EE, if yes to what extent?"

As per sec. 24(b)....... total deduction available 2 lakhs rupees under head IFHP.

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