Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

Substitution of new section for section 80EE - Deduction in respect of interest on loan taken for residential house property.

Clause 37 - Bills - DIRECT TAXES - Bill - Clause 37 - Substitution of new section for section 80EE. 37. For section 80EE of the Income-tax Act, the following section shall be substituted with effect from the 1st day of April, 2017, namely:- Deduction .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

able on loan taken by him from any financial institution for the purpose of acquisition of a residential property. (2) The deduction under sub-section (1) shall not exceed fifty thousand rupees and shall be allowed in computing the total income of th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

cial institution during the period beginning on the 1st day of April, 2016 and ending on the 31st day of March, 2017; (ii) the amount of loan sanctioned for acquisition of the residential house property does not exceed thirty-five lakh rupees; (iii) .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

in sub-section (1), deduction shall not be allowed in respect of such interest under any other provision of this Act for the same or any other assessment year. (5) For the purposes of this section,- (a) financial institution means a banking company .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

th the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes. . Clause 37 of the Bill seeks to substitute section 80EE of the Income-tax Act relating to deducti .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version