• Claim under section 80ee

Can I claim under section 80 EE? My facts :1) First time flat buyer. 2)Property under 50 lacs 3)First home loan in May 2016 is Rs 36 lacs however I close the loan by transferring the loan to Axis bank within the same financial year in March 2017 and the amount is Rs 33Lacs.Can I claim under 80 EE???.
Asked 6 years ago in Income Tax

Hi,

In my opinion you can Calum 80EE. Needless to mention that it will be a litigative position.

Please feel free to call/ revert in case you need more clarity.

Thanks and regards

Abhishek Dugar

CA CS B.Com

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

4.8 on 5.0

Hi,

As you have closed your original loan account by transferring to New loan account, you can claim under section 80 EE, but make sure Axis bank loan agreement does not mentioned that the original loan amount was more than 36

and loan is being transferred .

If your case falls under scrutiny then assessing officer can ask for the current loan documents. I suggest not to claim for deduction for First home loan.

Vishakha Agarwal
CA, Bangalore
448 Answers
85 Consultations

5.0 on 5.0

Hello,

Yes, you are elligible for the deduction.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP

Rohit R Sharma
CA, Mumbai
2104 Answers
95 Consultations

5.0 on 5.0

Just be prepared for the litigation in case the AO asks for the entire set of documents.

Rohit R Sharma
CA, Mumbai
2104 Answers
95 Consultations

5.0 on 5.0

Hi,

Yes you can claim the deduction under section 80EE. Please ensure that you maintain all relevant documentation to prove your claim.

Regards,

Keerthiga Padmanabhan

M.Com., CA, LL.B

Keerthiga Padmanabhan
CA, Greater Mumbai
784 Answers
27 Consultations

5.0 on 5.0

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