Tax deduction of interest on house property


Surbhi Chaudhari (STUDENT)     22 August 2019

Surbhi Chaudhari
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Can we claim deduction u/s 80EEA for an  F.Y. 2019-20 if stamp value of the property is 44,50,000 and we take a loan of 60,00,000 for the construction of house property on the same?
 

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Kapadia Pravin   22 August 2019

Kapadia Pravin

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80EeA not applicable in your case. it's for residential house property subject to carpet area and other conditions. it's not for buying a plot and then construction of house.
Further loan will have to from Financial Institution or from Housing Finance Company.

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Surbhi Chaudhari (STUDENT)     22 August 2019

Surbhi Chaudhari
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What if other conditions met like it is only residential property, the loan was taken from the financial institution and carpet area of the property was less than 90 square meters as a property is in the non-metro city.

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Kapadia Pravin   22 August 2019

Kapadia Pravin

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You have to comply with all conditions under 80EEA to avail interest benefit.


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