WebNov 13, 2024 · In comparison to Section 80C of the income tax act, Section 80 EEA is different. Under section 80C, you can claim income tax … WebJul 21, 2024 · Section 80EE and Section 80EEA; ... Lastly, he must claim the principal amount under section 80C. However, he will not be able to claim the entire Rs 3,60,000 as the deduction is limited to Rs 1,50,000 only. Section 24 of the Income Tax Act. ... Difference between Section 80EE and Section 24.
Section 80EE: Income Tax Deduction on Home Loan Interest U/S …
WebFeb 9, 2024 · A home loan for under-construction property can get tax deductions up to Rs. 2 lakhs on interest paid in a year and up to 1.5 lakhs for principal paid under Section 80C of the Income Tax Act. ... If the property isn't constructed in 5 years, the maximum deduction for the interest paid on the home loan is Rs. 30,000. crow vs raven vs blackbird
Why is the difference between 80C and 80CCD in the Income Tax …
WebYou can, however, claim an additional deduction of Rs 1.5 lakh if your home loan is eligible for deduction under Section 80EEA. Home Loan Tax Benefit Under Section 80C: Deduction on Principal Repayment. EMIs paid for the year can be deducted under Section 80C. The maximum deduction is Rs 1.5 lakh. WebJun 3, 2024 · The primary difference between Section 80EE and Section 80EEA is the eligibility criteria for claiming the deduction. Under Section 80EE, only first-time … WebFeb 27, 2024 · As per Section 80C of the Income Tax Act, You can claim a deduction of up to Rs. 1.5 lakh on the amount paid as the repayment of the home loan principal. This may include stamp duty and registration fees, but can be … crow vs raven uk