WebSep 25, 2024 · Deduction under section 80DD of Income Tax Act: 6. Deduction under section 80DDB of Income Tax Act: 7. Deduction under section 80E of Income Tax Act: 8. … WebJan 25, 2024 · A new Section 80EEA has been inserted by government to allow for an interest deduction from AY 2024-21 (FY 2024-20). The existing provisions of Section 80EE allow a deduction up to Rs 50,000 for interest paid by first-time home buyers for loan sanctioned from a financial institution between 1 April 2016 and 31 March 2024.
Section 80EE: Deduction for Interest on Home loan
WebSep 16, 2024 · Section 80EE is also introduced to offer additional deductions to first-time home loan buyers. However, it is only applicable to home loans sanctioned between April 1, 2016, and March 31, 2024. Under Section 80EE, first-time homebuyers who have taken a home loan can claim a deduction of up to Rs 50,000 on the interest component of their … 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 ... maso in affitto trentino
Budget 2024: Tax rebates in Budget for realty vital for salaried class
WebIntroduction of the section 80EEA. 117. For realisation of the goal of ‘Housing for All’ and affordable housing, a tax holiday has already been provided on the profits earned by … WebMar 31, 2024 · Section 80EEA - Deduction for affordable housing ... - The concerned individual taxpayer should not be eligible to claim any deductions under the existing Section 80EE of the Income Tax Act - A maximum amount of Rs 1.5 lakhs will only be permissible as a deduction for Financial Year 2024-2024 and subsequent financial years WebFeb 9, 2024 · Who is eligible for 80EE and 80EEA? As per the Section 80EEA income tax act, any first-time home buyer in India can earn an additional tax deduction of up to Rs. 1.5 … maso in vendita