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Mr Amrit Jain
On 12/21/18, 2:03 AM
Deduction for home loan can be claimed under section 80EE of the Income tax act, 1961 .But there are few conditions you need to satisfy in order to claim deduction. They are :-

Year of loan sanctionLoan should be sanction in FY 2016-17.

Amount of loan sanctionedNot more than Rs 35 Lakhs.

Value of House PropertyNot more than Rs 50 Lakhs.

Can own another House property on that date        No. The house purchased should be the first House Property.

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Asked: 12/21/18, 1:58 AM
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Last updated: 12/21/18, 2:03 AM