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Section 24 and 80EEA

Others 276 views 1 replies
The celing limit for claiming deduction under sec 24 for Self occupied property is rs 30000 and 200000( if the certain conditions are satisfied) .

and ceiling limit for Deduction under sec 80EEA is 150000 ( in addition to sec 24)

My query is can I claim deduction under both section ? as per my given below example

Mr. A pays interest of rs 80000 during the previous year and claims his deduction of rs 80000 during the assessment year u/s sec 24 and u/s 80EEA here what he does is claiming the same amount of interest twice under different sections .

P.S : I know this logic is not right sorry I am confused please educate me . thanks in advance
Replies (1)

Not possible as said in the example.

sub-section 4 to section 80EEA clearly says that, “Where a deduction under this section is allowed for any interest referred to in sub-section (1), deduction shall not be allowed in respect of such interest under any other provision of this Act for the same or any other assessment year.”

i.e. 80EEA Limit = Max. 1.5 lakh [over and above interest on borrowed capital u/s 24(b)]


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