7 Things To Know About Deduction On Interest On Loan Under Section 80EE:
1) Deduction is allowed only to INDIVIDUAL.
2) Deduction is on account of Interest payable on Loan from Financial Institution for acquisition of Residential House Property.
3) Loan has been sanctioned in financial year 2016-2017
4) The Amount of Loan sanctioned does not exceed 35,00,000 Rupees
5) The value of Residential House Property does not exceed 50,00,000 Rupees.
6) On the day of sanction of loan, Assessee does not have another Residential House Property.
7) Maximum Deduction Under This Section Is 50,000 Rupees.
No comments:
Post a Comment