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Deduction under sec 24b

Efiling 2087 views 3 replies

Anil Dogra

Freelancer

28 Points Joined January 2012

In ITR1 for assessment year 14-15 there is no provision to fill housing loan interest under section 24b. There is a provision to fill this under sec 80EE but the exemption limits under these two are different and one can claim both if the hosuing loan is upto 25lakh.

How to fill these two categories under efiling?

Replies (3)

JAINENDRA JAIN

ACS/CA

1668 Points Joined February 2010

You can take additional deduction of upto rs 100000/- under 80EE for f.y.14-15 & 15-16 taken together after deduction under sec 24B.

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

in ITR-1 there is a place to fill income from house property. you can give negative value in that field and it will be assumed to be your deduction u/s 24b. in regard to sec. 80EE, it is an additional deduction of 1lakh in addition to deduction u/s 24b but subject to fulfillment of contitions mentioned in 80EE.