Economics · Economy
Consider the following statements regarding tax benefits on housing loans in India: Statement 1: Section 80EEA provides an additional interest deduction of 1.5 lakh for first-time homebuyers purchasing 'Affordable Housing' where the stamp duty value of the property does not exceed 45 lakh. Statement 2: The deduction under Section 80EEA is available over and above the 2 lakh limit of Section 24b, conditional upon the borrower not owning any other residential property on the date of loan sanction. Statement 3: The benefits of Section 80EEA and Section 80C are restricted to taxpayers who opt for the Old Tax Regime. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only Statement 1 and Statement 3 are correct
- 2Only Statement 3 is correct
- 3Only Statement 1 and Statement 2 are correct
- 4All three statements are correct✓
Correct answer
All three statements are correct
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