FOLLOWING CONDITIONS MUST BE SATISFIED FOR CLAIMING NEW HOME LOAN - TopicsExpress



          

FOLLOWING CONDITIONS MUST BE SATISFIED FOR CLAIMING NEW HOME LOAN TAX DEDUCTION: 1. This deduction is available to first time home buyers. 2. You can claim this deduction only if your loan amount is less than Rs 25 lakh. 3. This benefit can be claimed by those individuals, who obtain a loan between April 1, 2013 and March 31, 2014. 4. The Union Budget 2013-14 has proposed a deduction of Rs 1 lakh on housing loan interest under section 80EE. This would be in addition to the existing tax benefit of Rs 1.5lakh under section 24. 5. The value of the property purchased should not exceed Rs 40 lakh.
Posted on: Sat, 09 Nov 2013 10:31:33 +0000

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