Tax benefit u/s 80ee for let out property

If total interest paid during the concerned year is Rs. 230000, you can take following deductions:

u/s 24- upto Rs. 200000 (provided conditions of section 24 are fulfilled)

u/s 80EE- Rs. 30000 (max. allowable deduction Rs. 50000 u/s 80EE)

Moreover, benefit of Section 80EE is not available if the assessee own more than one residential house property on the date of sanction of loan.

Thank You Arjun,

I am a first time buyer and i dont have any other property.

Hi Arjun,

My only question is whether deduction u/s 80 EE is available only for only Self Occupied Property or for LET OUT Property also.

Thanks In advance.

Yes, deduction u/s 80EE will still be available even if the property is let out.

Thank you Arjun.

This was really helpful.