CA Final Download the best Free CA FINAL android app for cracking your exam! Download Now
They are the best ca final faculties in India. They have produced many toppers & rank holders. Their video classes are available only here -
CHECK VIDEO CLASSES HERE

Tax Deduction for First-Time Homeowners Section 80EE

Tax Deduction for First-Time Homeowners Section 80EE

Section 80EE, recently added to the Income Tax Act, provides first-time homeowners tax benefit of up to Rs.1,00,000.

Click here to read more.

Conditions to claim deduction under Section 80EE:
To claim this deduction:

  1. You must be a first-time home owner
  2. Your home loan does not exceed Rs. 25 lakhs
  3. The property value must not exceed Rs. 40 lakhs
  4. Loan must have been sanctioned between 1 April 2013 to 31 March 2014
  5. No other house is owned by the taxpayer on the date the loan is sanctioned

Both resident individuals and NRIs can claim this deduction. The I-T Department has not specified if the house should be self-occupied to claim this deduction.

Note that this deduction can be spread over two financial years – FY 2013-14 and FY 2014-15.

Tax Deduction for First-Time Homeowners Section 80EE

CAKARt

CAKART

At CAKART www.cakart.in you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visit www.cakart.in and chat with our counsellors any time. We are happy to help you make successful in your exams.

Click here to download FREE CA CS CMA books.

Leave a comment

Your email address will not be published. Required fields are marked *