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Housing Loan Tax

121 views 4 replies

suneel

accountant

121 Points Joined March 2017

Hi Sir/Madam,

we availed two housing loan in 2016-17
can we claim on loan of 35,00000 and
4,00,000 ( two loans on purchase of house )

can we claim :
1.Intrest on House loan - 2,00,000

2.principle repayment of home loan under 80C- 50000Rs

3.Intrest on Home loan Availed in 2016-17-50,000Rs.under 80EE

please share valuable inputs

thanks

can we claim these three

Replies (4)

Rajasekar

TDS Preparer

1454 Points Joined September 2017

1. Yes you can claim u/s 24
2. Yes but subject to overall limit of 150000 u/s80C
3. 80EE The loan amount should not exceed 35 lakh, no other house during the time of loan sanctions and the property value should not exceed 50 lakh.

suneel

accountant

121 Points Joined March 2017

thanks Sir , actual loan is 37,30,000 and other loan is 4,00,000 two loans were taken for same house purchase .

on 1 St loan we can't claim 50000 under 80EE can we claim 50000 on second loan of 400000 under 80EE