Section 80EEA – Income Tax Deduction on Home Loan Interest

Finances News

In budget 2019-20, new tax deduction benefits up to 1.5 Lakh is announced by the government. This new tax deduction benefit is applicable under new section 80EEA for the home loan interest rate payments. The main objective behind giving this relaxation is housing for all or affordable housing by 2022. The new tax deduction benefit will help a taxpayer in saving a lot of money at the longer run. Key features, eligibility condition and benefit of this new income tax deduction are given below. Section 80EEA – Income Tax Deduction on Home Loan Interest Features of Section 80EEA deduction Additional

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