Deduction in respect of interest on loan taken for certain house property - Section 80EEA - Income Tax - Ready Reckoner - Income Tax

Deduction in respect of interest on loan taken for certain house property - Section 80EEA Available to: Individual in computing total income Purpose: Interest payable on loan taken from financial institution for acquisition of Residential House Property Quantum of deduction: Deduction shall not exceed ₹1,50,000 Period: From the AY beginning from 1 st April 2020 and subsequent assessment years. Conditions: (i) the loan has been sanctioned by the financial institution during the period beginning on the 1st day of April, 2019 and ending on the 31st day of March, 2022. (ii) the stamp duty value of residential house property does not exceed ₹45,00,000; (iii) the assessee does not own any residential house property on the date of sanction of loan.