Deduction for interest on housing loans where loans are sanctioned within the notified period and property value limits apply. Deduction is allowed for interest payable on loans from a financial institution for acquisition of a residential house property by an individual not ... Summary
Deduction for interest on housing loans where loans are sanctioned within the notified period and property value limits apply.
Deduction is allowed for interest payable on loans from a financial institution for acquisition of a residential house property by an individual not eligible under section 130, subject to an annual maximum and fulfilment of conditions: loan sanction within 1 April 2019-31 March 2022, stamp duty value below the statutory threshold, and no ownership of residential house property on the date of sanction; the deduction is exclusive and the term financial institution is as defined in section 130(5)(a).
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