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Section 80EE
Can the deduction of Rs 50000 be claimed by joint holders if the value of house property exceeds Rs 50 lakhs.
Replies (10)
This is applicable only for individual person.
no, you can not take deduction if the value exceeds above 50lakhs
Suppose the propery is worth Rs 60 lakhs and is jointly held by 2 persons..can each claim Rs 50000 as deduction?
when was loan sanctioned and what is loan amount
Sanctioned during 2016-17..loan amount Rs 30 lakhs
I think You can claim deduction under 24b
because each owner will get 200000 each( if it is self occupied)
because each owner will get 200000 each( if it is self occupied)
but sir what about 80EE deduction?
No. if the value of the property exceeds you cannot enjoy deductions u/s 80ee
In order to take deduction u/s 80EE the loan amount should be less than 35 lacs and property value should be less thean 50 lacs whether it is on jointly or severally. Further assesse should not in holding any Property in his/her name. So, u can not take deduction u/s 80EE, as your property value exceeds Rs. 50 lacs (i.e 60 lacs).
Thanks Harsh
When I typed 50 lakhs is missed and when I try to edit it doesn't allow me to edit.
When I typed 50 lakhs is missed and when I try to edit it doesn't allow me to edit.
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