Income Tax Benefit For first Time Home buyer - Budget 2016-17,

Budget 2016-17: Income Tax Benefit 

For first Time Home buyer - 

New Section: 80EE

Interest on housing loan allowed as deduction

Cost of asset – Rs.50 lac

Loan sanctioned – Rs.35 lac (01.04.16 and 01.04.17)

Deduction /Tax Benefit  – Rs.50,000

Assessee should not own any other residential  house property

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