80EE vs 80EEA: Know The Difference for Home Loan
Section 80EE and 80EEA are provisions under the Income Tax Act 1961 for tax advantages on Home Loan interest payments.
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How 80EE and 80EEA are Differ?
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Tax Saving
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#1
Section 80EE provides tax saving up to INR 50,000 for the total income of the assessment year; it is up to INR 1.5 lakh under Section 80EEA.
Loan Amount
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#2
Section 80EE is available for Home Loans under INR 35 Lakh and Section 80EEA under INR 45 Lakh.
Conditions
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Home Loan borrowers can’t claim deductions under both sections simultaneously.
Apply for a Home Loan to Save Taxes