What the condition to claim sec 80EE
in ITR-1
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SEC 80EE CLAIM
Replies (6)
Conditions to be Met for Claiming Deduction
Value of the house should be Rs 50 lakhs or less
Loan taken for the house must be Rs 35 lakhs or less
The loan must be sanctioned by a Financial Institution or a Housing Finance Company
The loan must be sanctioned between 01.04.2016 to 31.03.2017
As on the date of the sanction of loan, no other house property must be owned by you.
Section 80EE came into effect from the financial year 2013-14. It was available for only 2 years, FY 2013-14 and FY 2014-15. The deduction allowed earlier was limited to a maximum of Rs 1 lakh in total and was available for only 2 financial years. However, this section has been reintroduced, effective FY 2016-17 (AY 2017-18). Now the deduction is allowed for up to Rs. 50,000 per year until the loan is repaid.
Value of the house should be Rs 50 lakhs or less
Loan taken for the house must be Rs 35 lakhs or less
The loan must be sanctioned by a Financial Institution or a Housing Finance Company
The loan must be sanctioned between 01.04.2016 to 31.03.2017
As on the date of the sanction of loan, no other house property must be owned by you.
Section 80EE came into effect from the financial year 2013-14. It was available for only 2 years, FY 2013-14 and FY 2014-15. The deduction allowed earlier was limited to a maximum of Rs 1 lakh in total and was available for only 2 financial years. However, this section has been reintroduced, effective FY 2016-17 (AY 2017-18). Now the deduction is allowed for up to Rs. 50,000 per year until the loan is repaid.
Very Nice Explain @ Rashmi Gandhi...
Nice explain , Rashmi g
Thank you very much
Thank you very much
Thanks Raja P M & Rajkumar
Hi,
My question is, If I took the home loan 36 Lakh and I paid Rs. 2 Lakh towards loan. So current home loan is 34 Lakh. Does it is applicable to claim Rs. 50000 under 80EE ?
If i take a loan in AY 20-21,then can i claim deduction under 80 EE.
since it has been reintroduced since 2017?
since it has been reintroduced since 2017?
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