Deduction U/s 80EEA

200 views
User Avatar

PROP.
35 Points Posted on 11 June 2020
A person had bought a land and starting construction on it. He is willing to take home loan on construction of house.

Whether he will be allowed to claim interest U/s 80EEA if amount of yearly interest exceeds Rs. 2 lakh.
0 Reply Share Follow
On 11 June 2020 at 16:28 Report
Replies (3)
Quick Summary
This discussion clarifies the eligibility for Section 80EEA deductions on home loans. It highlights that the deduction applies to loans taken for property acquisition, not construction, and was only available for loans sanctioned by 31st March 2020. The query also addresses whether the deduction is permissible if annual interest surpasses the £2 lakh limit.

User Avatar

17 Points Posted on 11 June 2020
When the construction started
Reply
On 11 June 2020 at 21:17
User Avatar

12244 Points Posted on 12 June 2020
The loan should have been taken on or before 31/03/2020
Reply
On 12 June 2020 at 01:40
User Avatar

Tax and Business Consultant
11616 Points Posted on 25 July 2020
Section 80EEA deduction is available on loan taken for purpose of acquisition of a residential property, not construction of residential property
Reply
On 25 July 2020 at 13:54

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Can a virtual office in Mumbai be used for company
  2. Eway and e invoicing in condition where 4 party ar
  3. Bank balance in ITR-3
  4. INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
  5. Tempsens Instruments IPO GMP Allotment Listing dat
  6. Upload Type - Correction. Not showing in TDS filli
  7. Partnership tax audit query
  8. ERROR SHOWING PARTNER REMUNERATION ITR 3 TIME OF V
  9. Form 146 foreign remittance us citizen
  10. GST 16(2) notice

More recent discussions | Post

Related Topics :

Loading