Categories
Pagination Scroll
Amit singh

80EE - Interest on loan taken for residential House property...
Hi amlan sir..maine apke sare home loan ke video dekha..but solution nahi mila. My query is...MAINE HOUSE REPAIRING KE LIYE 500000 LOAN liya hai uska Interest itr 1me kaise aur kaha show karu..house papa ka hai..mai saath me rata hu...
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
For Father's house, you wont get benefit of home loan since you enjoy no co ownership of the house ...assuming that you were a co-owner , in that case also, the correct section is not 80 EE but rather 24(b) under which you can seek benefit

Basically , if as a owner/co owner , you have have Home R...
  • September 25, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Om prakash kalla

80EE - Interest on loan taken for residential House property...
50000 Deduction under 80EE is applicable for home construction loan or it is applicable for home buyers only.....we bought a plot in 2007 and took a housing loan worth 33 lakh on April 2016 for construction of my home....we took 3 types loan from HDFC for complete construction 1.housing loan 33 lac...
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
24b can be used for home constuction loan but can be utilized only once construction is complete ...i don't believe that 80 EE has this facility .. there is no benefit for insurance funding or home equity loan.....In this case, you can therefore only claim 24b section benefit post construction is c...
  • July 22, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Manjit kumar

80EE - Interest on loan taken for residential House property...
Can I take benefit of 80EE if I have loan taken before 31 March 2018
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
Surely you can , but the other conditions should be satisfied and note one thing that if section 80 EE is used, no other section i.e 24(b) for claiming interest benefit can be availed...Select question category properly next time to avoid query getting deleted
  • July 19, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Om prakash kalla

80EE - Interest on loan taken for residential House property...
हेल्लो Amlan....मैंने 2007 में एक प्लाट ख़रीदा था और उसी साल कुछ कंस्ट्रक्शन का काम कराया था उसी प्लाट में.....फिर जुलाई 2016 में म...
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
If you have already availed benefit under 24(b), you cannot take benefit under 80 EE ..And yes , 80 EE is only for home loan and not for loan on land etc ....here in this case since benefit of home loan already being availed under 24(b),so 80 EE cannot be used
  • November 27, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Sumit Hedaoo

80EE Eligibility...
Under construction homeloan.
my house cost is around 65lacs and my loan value is also more than 40Lacs.
and this loan is joint home loan with my wife.
can we both take the benefit of 80EE deduction?
means if we both took the loan, so the value of house and loan will be 50% on both?
  • Show Placeholder
  • Hide Discussion
   likes this.
AYUSH
Hello sumit refer following Conditions to be Met for Claiming Deduction 80ee
This is the 1st house you have purchased
Value of this house is Rs 50 lakhs or less
Loan taken for this house is Rs 35 lakhs or less
Loan has been sanctioned by a Financial Institution or a Housing Finance Company
Loan has bee...
  • July 14, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Amlan Dutta
As ayush explains, for claiming 80 EE benefit, value of this house should be Rs 50 lakhs or less
and loan taken for the house must be Rs 35 lakhs or less. Since your house value is more than 50 lakhs i.e 60 lakhs and loan is more than 35 lakhs i.e 40 lakhs, you clearly are not eligible for 80 benefi...
  • July 14, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Sumit Hedaoo

80EE - Interest on loan taken for residential House property...
Hello Amlan,
i have purchased a under construction property in 2017. home loan started from April 2017 but possession in October 2018.
Can i file interest or principal for this property in current Assessment year? i am having a joint homeloan with my wife and last year i have paid interest of around...
  • Show Placeholder
  • Hide Discussion
AYUSH
Hello sumit Section 80EE allows tax benefits for first time home buyers. Income tax deduction can be claimed on home loan interest towards your first house property. The deduction allowed under this section is for interest paid on home loan up to maximum Rs 50,000 per financial year. You can contin...
  • July 13, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Amlan Dutta
Till the construction is complete , normal deduction benefit under section 24(b) till 2 lakhs wont be allowed ...so in the construction years , given you qualify for 80 EE , you can claim 50,000 rs and further 50,000 rs next year ( maximum eligible benefit is 1 lakh)....then wait till posession is g...
  • July 13, 2018
  • ·
  • Like
  • ·
  • Select as Answer
rahul

80EE Eligibility...
Hello Amlan,
For the 80EE we say the value should not be more than 50 lakhs and loan amount as 35 lakhs.
I have taken 35 lakhs loan and it sanctioned in November 2016 .
How do we calculate the value of the property ?What is the criteria to calculate that ?
  • Show Placeholder
  • Hide Discussion
rahul
The sale deed is there for the plot purchased. That is for around 10 lakhs and the construction was done separately by the builder for which the loan was taken. I am not sure about the sale deed for the house constructed.
  • July 13, 2018
  • ·
  • Like
  • ·
  • Select as Answer
rahul
this was constructed by us and how the sale deed comes into picture as this was not sold to us by anyone . but at the same time we have taken the loan for the house construction only.
  • July 13, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Hemant Kolte

80EE - Interest on loan taken for residential House property...
Hey Amlan,
I took home loan in FY 16-17. I satisfied all other conditions and took 80EE benefit , now i have transfer my home loan from HDFC to ICICI bank will i be still able to take this benefit?
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
As long as your loan conditions are satisfied , i..e loan is below 35 lakhs and taken after FY 2016 17 , it doesn't matter whether your transfer loan from one bank account to another. You can still claim 80EE benefit.....
  • June 29, 2018
  • ·
  • Like
  • ·
  • Select as Answer
PARTHA SARATHI MAJEE

80EE - Interest on loan taken for residential House property...
Amlan sir I have some query here is my query
1.In which circumstance I can show home loan interest u/s 80EE and how? can I show it under the head house property interest payable under borrowed capital in spite of 80EE.Whether this 80EE deduction is only for claiming interest over borrowed capital ie...
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
The eligibility of 80 EE is that you must have no other house in your name , the house price is below 50 lakhs , the loan is below 35 lakhs and the loan is sanctioned after FY 2016 17 ...Now, If home loan interest repayment exceeds 2 lakhs ...i.e say it is 2.6 lakhs , then you can use the 80 EE dedu...
  • June 22, 2018
  • ·
  • Like
  • ·
  • Select as Answer