Question
The individuals, who have availed loans for purchase of
residential property, which was sanctioned between 1st April 2019 and 31 March 2021, can avail the deduction of interest payment on such loan as per which among the following sections?Solution
The individuals, who have availed loans for purchase of residential property, which was sanctioned between 1st April 2019 and 31 March 2021, can avail the deduction of interest payment on such loan. The government has proposed to extend the deduction u/s 80EEA by one year i.e., upto 31st March 2022. Hence, all loan sanctioned upto 31 March 2022 shall be eligible for deduction of interest u/s 80EEA i.e., Rs. 1,50,000/- subject to other conditions.
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