Home loan in stages

202 views
User Avatar

Mechanical
215 Points Posted on 19 October 2020
if I build a single floor house satisfying 80EE conditions then rebuild the second floor ,then can I claim principal and interest of second loan too?

since the new tax rules allow for second house.
0 Reply Share Follow
On 19 October 2020 at 23:30 Report
Replies (3)
Quick Summary
This discussion explores the possibility of claiming tax benefits on home loans when building a house in stages. It clarifies that you can indeed claim deductions for principal and interest on loans for subsequent floors, even if the first floor qualified under Section 80EEA. The conversation confirms that multiple home loans for different stages of construction can be eligible for various tax deductions under different sections of the Income Tax Act.

User Avatar

197 Points Posted on 19 October 2020
Yes you can
Reply
On 19 October 2020 at 23:39
User Avatar

Tax consultant
5895 Points Posted on 20 October 2020
Yes you can
infact if you have taken home loan and you full filling the condition for 80EE
then also you can claim interest from 2 options as per the limit of the act.
Reply
On 20 October 2020 at 00:44
User Avatar

Mechanical
215 Points Posted on 21 October 2020
If so, can i build a 960 sq ft ground floor and claim 80EEA, Then rebuild and claim 80EE +principal under 80c and interest u/s 24?
Reply
On 21 October 2020 at 07:19

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Last Date To Fill ITR For Non-Audit Case
  2. Guidance Required on Filing Fresh Registration und
  3. IT Return Refund Status AY 2026-27
  4. Clarification Regarding Income Tax Demand Notice
  5. Online PAN Download: Check How?
  6. Demand of Late fee/Interest under section 75 of GS
  7. DSC registration on TRACES portal
  8. Can we get registered for MCA if we get a Virtual
  9. DONATION PAYMENT REG
  10. GST IDS Refund – Statement 01A: Invoice Not

More recent discussions | Post

Related Topics :

Loading