While you are an initial-date homebuyer, you could allege taxation deduction below Area 80EE. Which point lets most tax deduction of upto Rs 50,100 toward appeal commission to the home loan. Put differently, that it deduction is more than and you will over the different off Rs dos lakh invited not as much as Point twenty four(b).
- The loan need started removed anywhere between .
- It needs to be the newest debtor?s earliest possessions buy.
- The value of the house should not be over Rs 50 lakh, just like the financial should not be more than Rs 35 lakh.
Point 80EEA – Tax Deduction to own Appeal Reduced towards Affordable Casing Financing
The latest 2019 Connection Funds established of the Fund Minister Nirmala Sitharaman gave a primary improve into ‘Housing getting All’ initiative by offering an extra income tax credit away from Rs step one.5 lakh for the housing mortgage interest money produced between . Read more