What is the maximum deduction and conditions for the home loan
| Deductions | Section | Max Deduction | Conditions |
|---|---|---|---|
| Stamp Duty | 80C | 1.5 Lakh | It can be claimed only in the year these expenses areincurred. |
| EMI Interest | 24b | 2 Lakh | The loan must be taken for the purchase/construction of a house, and the construction must be completed within 5 years from the end of the financial year in which the loan was taken. |
| EMI Interest | 80EE | Rs.50,000 | Loan less than Rs 35 lakh Property's value less than Rs 50 lakh The home loan taken between 1-4-2016 & 31-3-2017 |
| EMI Interest | 80EEA | 1.5 Lakh | The stamp value of the property should be Rs.45 lakh or less. The taxpayer is not eligible to claim a deduction under Section 80EE. The home loan should be taken between 1-4-2019 to 31-3-2022 |
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