Additional tax deduction of Rs 1.5 lakh for interest on home loan for affordable housing extended

The deduction of Rs 1.5 lakh in a financial year is available under section 80EEA of the Income-tax Act, 1961. Deduction on payment of interest on a housing loan was introduced in Budget 2019. This deduction is available over and above the Rs 2 lakh deduction available on the interest payment on housing loan subject to certain conditions.

from Personal Finance News-Wealth-Economic Times https://ift.tt/39DsfQh