Can you please explain the section 80EE of Income tax ACT. What is the benefit of this section to the tax payer?
Dip Narayan (Deputy Manager) (767 Points)
14 October 2017Can you please explain the section 80EE of Income tax ACT. What is the benefit of this section to the tax payer?
Section 80EE allows tax benefits for first time home buyers.Income tax deduction can be claimed on home loan interest.The deduction allowed under this section is for interest paid on home loan up to maximum Rs 50,000 per financial year. You can claim this deduction until you have fully repaid the loan.
Dip Narayan
(Deputy Manager)
(767 Points)
Replied 14 October 2017
Sir
Is there any extra benefit of section 80EE over the earlier rules?
chamarthi venkatesh
(Student CA Articleship)
(848 Points)
Replied 15 October 2017
CAclubindia
