Tax related
1 year ago
Can we claim interest under 24b (2 lac) (different house property), 80EEA (1.5 lac) (different house property)and hra deduction (different house property)altogether?
A.Yes, deduction of interest paid on housing loan can be claimed under sec 24b provided there is an interest paid certificate received from bank as a proof.
Deduction of interest paid under Sec 80EEA can be claimed in addition to Sec 24b only if the stamp duty value of the property is less than 45 lakhs and it is the first property for the buyer.
House rent allowance can be claimed in addition to deduction claimed under Sec 24b i.e. 2 lacks and additional 1.5 lacks as per Sec 80EEA only if the buyer resides in the rental property and pays rent to the landlord.
Deduction of interest paid under Sec 80EEA can be claimed in addition to Sec 24b only if the stamp duty value of the property is less than 45 lakhs and it is the first property for the buyer.
House rent allowance can be claimed in addition to deduction claimed under Sec 24b i.e. 2 lacks and additional 1.5 lacks as per Sec 80EEA only if the buyer resides in the rental property and pays rent to the landlord.
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A.Dear Client
Buyers can claim deductions under both, Section 24(b) and Section 80EEA, and enhance their total non-taxable income to Rs 3.50 lakhs, if they meet the eligibility criteria. However, deductions under Section 80EEA can only be claimed after exhausting the Rs 2-lakh limit under Section 24(b)
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Buyers can claim deductions under both, Section 24(b) and Section 80EEA, and enhance their total non-taxable income to Rs 3.50 lakhs, if they meet the eligibility criteria. However, deductions under Section 80EEA can only be claimed after exhausting the Rs 2-lakh limit under Section 24(b)
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A.1. Yes, deduction of interest paid on housing loan can be claimed under sec 24b provided there is an interest paid certificate received from the bank as proof.
2. Deduction of interest paid under Sec 80EEA can be claimed in addition to Sec 24b only if the stamp duty value of the property is less than 45 lakhs and it is the first property for the buyer.
3. House rent allowance can be claimed in addition to the deduction claimed under Sec 24b i.e 2 lacks and an additional 1.5 lacks as per Sec 80EEA only if the buyer resides in the rental property and pays rent to the landlord.
2. Deduction of interest paid under Sec 80EEA can be claimed in addition to Sec 24b only if the stamp duty value of the property is less than 45 lakhs and it is the first property for the buyer.
3. House rent allowance can be claimed in addition to the deduction claimed under Sec 24b i.e 2 lacks and an additional 1.5 lacks as per Sec 80EEA only if the buyer resides in the rental property and pays rent to the landlord.
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A.Dear Sir,
Your question may be properly answered by either chartered accountant or auditor since your question pertains to financial matter.
Your question may be properly answered by either chartered accountant or auditor since your question pertains to financial matter.
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