(i) Eligible assessee:Section 80EE provides additional deduction in respect of interest on loan taken by an individual for acquisition of residential house property from any financial institution.
- Value of house should be less than or equal to Rs.50 lakhs.
- Loan should be sanctioned during the P.Y.2016-17.
- Loan sanctioned should be less than or equal to Rs.35 lakhs.
- The assessee should not own any residential house on the date of sanction of loan.
(iii) Period of benefit:The benefit of deduction under this section would be available till the repayment of loan continues.
(iv) Quantum of deduction:
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