Section 80EE: First Home Buyers
Eligibility#
- First residential house
- Property value up to ₹50 lakh
- Home loan from prescribed lender
- Individual (not HUF)
Deduction#
- ₹50,000 per year
- On interest portion of home loan
Conditions#
- Should not own any house
- Loan sanctioned after April 2016
Conclusion#
Extra benefit for first-time home buyers.