Chartered Accountants, practicing CA’s, students and related industry professionals may connect with users of similar interests. To raise and discuss issues related to finance and taxation. The objective of this group is to address concerns and bring out feasible solutions for making a strong communication network for all related audience.

What does sec 80EE of the Income Tax Act says about?

1 reply, 2 voices Last updated by  Vaishali Dhameja 1 week, 3 days ago
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #5161

    Nilesh dewani
    Participant
    @nilesh@123

    What does sec 80EE of the Income Tax Act says about?

    #5165

    Vaishali Dhameja
    Participant
    @vinnied99

    Section 80EE of the Income Tax Act provides a deduction on the interest portion of the house property loan availed from any financial institution. Section 80EE came into force from the financial year 2013-14. It was available for only 2 Financial Year, 2013-14 and 2014-15. The deduction allowed earlier was limited to a maximum of Rs 1 lakh in total. However, this section has been reintroduced and is effective from FY 2016-17 (Assessment Year 2017-18). Now the deduction is allowed for up to Rs 50,000/year until the loan is repaid.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.