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of <h1>Deduction for interest up to Rs.1,50,000 on home loan (sanctioned Apr 1, 2019-Mar 31, 2022) under Section 80EE</h1> An individual who cannot claim deduction under section 80EE may deduct interest on a loan from a financial institution for acquiring a residential house up to Rs.1,50,000 when computing total income for assessment years beginning 1 April 2020 onward. Conditions: loan sanctioned between 1 April 2019 and 31 March 2022, stamp duty value of the property does not exceed Rs.45 lakh, and the individual did not own any residential house on the loan sanction date. The same interest cannot be claimed under any other provision for the same or any other assessment year; 'financial institution' and 'stamp duty value' follow statutory definitions.
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