Get House loan interest deduction up to 3,50,000<br /><br /> अब मिलेगी 3,50,000 तक की छूट<br /> Budget 2019, Save Tax Up to Rs 109200<br /> Housing Loan Deduction, Increased From 200000 to 350000<br /><br />1) The union budget 2019 has introduced a new section 80EEA to extend the tax benefits of the interest deduction up to Rs 1,50,000<br /><br />Analysis if both Sec 24 and Sec 80 EEA is Availed<br />Tax Slab Exemption Amount Tax Component Cess @ 4% Total tax Saved<br />5% 350000 16500 700 17200<br />20% 350000 70000 2800 72800<br />30% 350000 105000 4200 109200<br /> <br /> <br />Analysis of New Section 80 EEA if Availed<br />Tax Slab Exemption Amount Tax Component Cess @ 4% Total tax Saved<br />5% 150000 7500 300 7800<br />20% 150000 30000 1200 31200<br />30% 150000 45000 1800 46800<br /><br /> Conditions for claiming the deduction<br /><br />• Housing loan must be taken from a financial institution or a housing finance company for buying a residential house property.<br />• Loan should be taken between between 1st April 2019 to 31st March 2020.<br />• House should be residential purpose and self occupied.<br />• Stamp duty value of the house property should be Rs 45 lakhs or less.<br />• The taxpayer should not own any residential house property as on the date of sanction of the loan.<br />• The deduction under this section is available only to individuals<br />
