Income Tax Benefit from Section 24 and Section 80EE Simultaneously

POSTED BY Tanmay Dutta ON March 15, 2014 9:08 am COMMENTS (3)

I took a home loan (from Bank A) in November 2012 to purchase a house, which was registered in November 2012. In 2013-2014 I paid Rs. 210000/- as interest to that loan. In January 2014 I shifted that loan to another bank (Bank B), where I paid Rs. 40000/- as interest.

I need to know whether I can get deductions from taxable income under section 24b (maximum limit Rs. 150000/-) and section 80EE (maximum limit Rs. 100000/-) both for the assessment year 2014-2015.

3 replies on this article “Income Tax Benefit from Section 24 and Section 80EE Simultaneously”

  1. ashalanshu says:
    March 16, 2014 at 6:36 pm

    Dear Tanmay, sorry for the goof up from my side. Yes your total benefit is 2.5L Rs.

    Thanks

    Ashal

    Reply
  2. ashalanshu says:
    March 15, 2014 at 9:38 pm

    Dear Tanmay, section 80E relates to education loan, so where do these 2 things join? In your query, education loan is not mentioned that’s why I’m asking

    Thanks

    Ashal

    Reply
    1. Tanmay Dutta says:
      March 16, 2014 at 5:21 pm

      Dear Ashal,

      You may have missed to notice that I mentioned about section 80EE, not 80E. If you have any answer, please let me know.

      Thanks,

      Tanmay

      Reply

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