H.r.a
Avik Banerjee (Account Assistant) (122 Points)
10 August 2016Avik Banerjee (Account Assistant) (122 Points)
10 August 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160327 Points)
Replied 11 August 2016
Under section 24(B): In Let Out Property/Deemed to be Let Out – No maximum limit AND Self Occupied House – Rs. 2,00,000. (1,50,000 for A.y 2014-15 and before)
Note: the above limit of Rs 2,00,000 for SOP shall be reduced to Rs. 30,000 for any purpose other than construction or acquisition; like repairs, modification etc.
From current financial year, an additional deduction is also added u/s. 80EE for Rs. 50,000 for new First time Home buyers. This incentive is proposed to be extended to a house property of a value less than fifty lakhs rupees in respect of which a loan of an amount not exceeding thirty five lakh rupees has been sanctioned during the period from the 1st day of April, 2016 to the 31st day of March, 2017. It is also proposed to extend the benefit of deduction till the repayment of loan continues.
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