Housing Loan Interest - Additional Deduction

ADDITIONAL BENEFIT FOR FIRST HOME –BUYERS - SEC 80EE

 

Applicability: For Individuals

Deduction: Maximum of Rs. 1 Lakh

Conditions:

  • Any Loan Sanctioned in the period between 01.04.2013 to 31.03.2014
  • Loan by any Financial Institution
  • Sanctioned amount of Loan < 25 Lakh
  • Assessee does not own any other House Property on the Sanctioned date
  • Property Value < 40 Lakhs