• Eligibility for deductions as per 80 EE or 80 EEA

Hi Sir/Madam,

I have home loan of 60 lakhs from ICICI Bank for the appt I currently occupy. It was sanctioned in Dec, 2018.

The total cost of appt was 65 lakh + 16 lakhs (undivided share) + GST

Total built up area of the appt is 1649 sq feet.

The estimated value of the apartment as per valuation certificate attached to the sale deed stamp paper is Rs 48 lakhs.

Am I eligible for 80 EE or 80EEA deduction .
Asked 7 days ago in Income Tax

Hi

 

Your sanction date does not fall within the time limits specified under either of the sections 80EE (April 16 to March 17) and 80EEA (April 2019 to March 2021). 

 

You can only claim interest deduction u/s 24.

Lakshita Bhandari
CA, Mumbai
5557 Answers
649 Consultations

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Not eligible for section 80EE or 80EEA. Avail benefit of interest on loan u/s 24(b).

Vivek Kumar Arora
CA, Delhi
4222 Answers
399 Consultations

5.0 on 5.0

Hello,

 

As per the details provided, you are not eligible for either 80EE or 80EEA. Interest deduction can only be claimed under Sec. 24.

 

Regards,

CA Hunny Badlani

Badlani & Associates

Hunny Badlani
CA, Madhya Pradesh
2583 Answers
12 Consultations

5.0 on 5.0

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