WebAug 30, 2024 · Section 80EEA was introduced as part of the Income Tax Act in the budget session of 2024. The objective of this section was to make housing loans more affordable by allowing tax benefits through interest on home loan deduction. The maximum home loan interest tax benefit available under Section 80EEA is Rs. 1,50,000. WebTax deductions specified under Chapter VIA of the Income Tax Act ... 80EEA; Deduction available only to individuals towards interest payments made on loan taken for acquisition of residential house property for the first time where the loan is sanctioned between 1st April 2024 to 31st March 2024 & deduction should not have been claimed u/s 80EE ...
Section 80EE: Income tax deduction for interest on home loan
WebJul 19, 2024 · If you are able to satisfy the conditions of both Section 24 and Section 80EEA of the Income Tax Act, you can claim the benefits under both the sections. Section 80EE for FY 2024-19 or AY 2024-20. For FY 2024-19 or AY 2024-20, the first-time Home Buyers can claim an additional Tax deduction of up to Rs 50,000 on home loan interest payments u/s ... WebAfter section 80EE of the Income-tax Act, the following sections shall be inserted with effect from the 1st day of April, 2024, namely:— ... '80EEA. Deduction in respect of interest on … brand imaging group
Section 80EE of Income Tax Act Deduction of Interest ... - YouTube
WebThe premise. Tax laws in India promote home ownership, by way of providing several rebates against housing loan repayment. While some of the provisions of the Income Tax … WebApr 15, 2024 · If you find this video helpful then do LIKE, COMMENT and SHARE it with your friends and don't forget to SUBSCRIBE the channel and press the Bell Icon for fut... WebJan 30, 2024 · Differences between Sections 80EEA and 80EE. Section 80EE of the Income Tax Act allows first-time home buyers to claim an additional tax deduction benefit of ₹ 50,000 over and above Section 24 (b). It is important to note that if you have claimed a tax deduction under Section 80EE, you cannot claim a tax deduction benefit under Section … brandi mathews murder