New Enroll in RBI Grade B New Batch - Starts on May 21

    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?
    A Section 80DDA Correct Answer Incorrect Answer
    B Section 80EEA Correct Answer Incorrect Answer
    C Section 80DD Correct Answer Incorrect Answer
    D Section 80DDD Correct Answer Incorrect Answer

    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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