Section 80EE

Tax Benefit on Home Loan

Income Tax - Repayment of housing loan is through Equated Monthly Installments (EMI) which consists of principal and interest component. As the repayment comprises of 2 different components, the tax benefit on home loan is governed by different sections of the Income Tax Act and these are claimed as tax deductions under different sections while filing...

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Income Tax Benefits for Assesses taking Home loan

Income Tax - So, here we are talking about the various tax benefits provided by the Income Tax Act, 1961 to the taxpayers who have taken housing loan. There are various deductions available under the Act for the payment of loan amount (principal) as well as the interest component....

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S. 80EE Additional Deduction of Rs. 50000 on Home Loan Interest

Income Tax - Budget 2016: In furtherance of the goal of the Government of providing 'housing for all', it is proposed to incentivise first-home buyers availing home loans, by providing additional deduction in respect of interest on loan taken for residential house property from any financial institution up to Rs. 50,000. ...

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Income Tax provisions – Individual Salaried for A.Y 2015-16

Income Tax - The article covers Introduction, Residential Status, Tax Rates, Head-wise Taxation & Deduction available under the Act. Hope you will find it useful in this Return Filing Season....

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Section 80EE Income Tax Benefit on Home Loan Interest

Income Tax - Income Tax Benefit on Home Loan Interest under Section 80EE Of Income Tax Act relating to the additional deduction in respect of interest on loan taken for residential house property....

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Recent Posts in "Section 80EE"

Tax Benefit on Home Loan

Repayment of housing loan is through Equated Monthly Installments (EMI) which consists of principal and interest component. As the repayment comprises of 2 different components, the tax benefit on home loan is governed by different sections of the Income Tax Act and these are claimed as tax deductions under different sections while filing...

Read More
Posted Under: Income Tax | ,

Income Tax Benefits for Assesses taking Home loan

So, here we are talking about the various tax benefits provided by the Income Tax Act, 1961 to the taxpayers who have taken housing loan. There are various deductions available under the Act for the payment of loan amount (principal) as well as the interest component....

Read More
Posted Under: Income Tax |

S. 80EE Additional Deduction of Rs. 50000 on Home Loan Interest

Budget 2016: In furtherance of the goal of the Government of providing 'housing for all', it is proposed to incentivise first-home buyers availing home loans, by providing additional deduction in respect of interest on loan taken for residential house property from any financial institution up to Rs. 50,000. ...

Read More
Posted Under: Income Tax | ,

Income Tax provisions – Individual Salaried for A.Y 2015-16

The article covers Introduction, Residential Status, Tax Rates, Head-wise Taxation & Deduction available under the Act. Hope you will find it useful in this Return Filing Season....

Read More
Posted Under: Income Tax |

Section 80EE Income Tax Benefit on Home Loan Interest

Income Tax Benefit on Home Loan Interest under Section 80EE Of Income Tax Act relating to the additional deduction in respect of interest on loan taken for residential house property....

Read More
Posted Under: Income Tax |

Income Tax Benefits from House Property and Loan

Section 80C for Investment in Residential House Property and for payment of Principal amount – The Equated Monthly Installment (EMI) that you pay every month to repay your home loan consists of two components – Principal and Interest. The principal component of the EMI qualifies for deduction under Sec 80C....

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Posted Under: Income Tax |

Analysis on cross connection between Sec. 80EE and Sec. 24(b)

Finance Act, 2013 with a view to provide additional benefit towards interest paid by assessee against housing loan inserted a new section of deduction i.e Section 80EE w.e.f. 01.04.2014. i.e. Deduction in respect of interest on loan taken for residential house property. 80EE. (1) In computing the total income of an assessee, being an ind...

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Section 80EE : Deduction for interest on loan for residential house property

Deduction in respect of interest on loan taken for residential house property(Section 80EE): Vide Finance Act 2013, an individual is allowed a deduction upto a limit of Rs 1,00,000 being paid as interest on a loan taken from a Financial Institution, sanctioned during the period 01-04-2013 to 31-03-2014 (loan not to exceed Rs 25 lakhs) [&h...

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Posted Under: Income Tax |

S. 80EE Additional Deduction of Interest upto Rs.1 Lakh on Home Loan for First Home Buyer

Under the existing provisions of section 24 of the Income-tax Act, income chargeable under the head ‘Income from House Property’ is computed after making the deductions specified therein. The deductions specified under the aforesaid section are as under:-...

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Posted Under: Income Tax | ,

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