Schedule 80EEA – Deduction in Respect of Interest on Loan Taken for Certain House Property AY 2026-27
‘Schedule 80EEA’ in the Income Tax Return facilitates the reporting of interest paid on housing loans eligible for deduction under Section 80EEA. This deduction, up to Rs. 1,50,000, is available to individual assessees (resident or non-resident) for loans sanctioned between 01.04.2019 and 31.03.2022 for the acquisition of residential house property. The schedule requires disclosure of the stamp value of the property and complete loan details, including the lender’s name, loan account number, sanction date, total sanctioned amount, outstanding balance as on the last day of the financial year, and interest amount eligible for deduction.
Section 80EEA of the Income-tax Act, 1961
Under Section 80EEA, an additional deduction up to Rs. 1,50,000 is allowed in respect of interest payable on the housing loan (sanctioned between 01-04-2019 and 31-03-2022) to acquire a residential property. This deduction is available to an individual assessee, whether resident or non-resident.