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        Income Tax

        Section 80EE - Deduction in respect of interest on loan taken for residential house property.

        Income-tax Act, 1961
        Part B
        Deductions in respect of certain payments

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        Deduction for interest on home loan available subject to specified eligibility conditions and an exclusive-claim restriction for individuals. Section 80EE allows an individual to deduct interest payable on a loan from a financial institution or housing finance company taken for acquiring a residential house property, subject to conditions: loan sanctioned within the statutory sanction period, loan amount and property value not exceeding prescribed caps, and the borrower not owning any residential house property on the loan sanction date; the deduction is capped and, if allowed under this section, cannot be claimed under any other provision for the same or other assessment years.
                      Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                        Provisions expressly mentioned in the judgment/order text.

                            Deduction for interest on home loan available subject to specified eligibility conditions and an exclusive-claim restriction for individuals.

                            Section 80EE allows an individual to deduct interest payable on a loan from a financial institution or housing finance company taken for acquiring a residential house property, subject to conditions: loan sanctioned within the statutory sanction period, loan amount and property value not exceeding prescribed caps, and the borrower not owning any residential house property on the loan sanction date; the deduction is capped and, if allowed under this section, cannot be claimed under any other provision for the same or other assessment years.


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