Tax deduction under 80 EE for under construction house

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  1. SHIVRAJ SINGH YADAV

    SHIVRAJ SINGH YADAV New Member

    Dear sir,
    please confirm whether 80 EE tax benefit can be availed for house under construction expected to be completed by Dec'2015 ?
    Regards.
    S.S.Yadav
     
  2. Karan Batra

    Karan Batra Well-Known Member

    Dear @SHIVRAJ SINGH YADAV

    Section 80EE is available for both fully constructed and under construction properties, if the following conditions are complied with:-

    1. The Loan is sanctioned between 1st April 2013 and 31st March 2014
    2. The Amount of Loan sanctioned for the acquisition of Residential House Property does not exceed Rs. 25,00,000
    3. The Value of the Residential House Property does not exceed Rs. 40,00,000
    4. The Assessee does not own any House Property on the date of sanction of Loan
     
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