Deduction under sec 24b

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Freelancer
21 Points Posted on 15 June 2014

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?

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On 15 June 2014 at 09:46 Report
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ACS/CA
1264 Points Posted on 15 June 2014
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.
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On 15 June 2014 at 13:43
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Student as well as Self-employed
3853 Points Posted on 16 June 2014
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.
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On 16 June 2014 at 00:28
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Student as well as Self-employed
3853 Points Posted on 16 June 2014
@ jainendra jain... a correction in your statement.... deduction is available for AY 14-15 and 15-16 and not FY.
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On 16 June 2014 at 00:30

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