First-time home buyer ₹50K additional interest deduction. Window April 2016-March 2017 (closed). Existing eligible borrowers continue benefit.
Section 80EE FIRST-TIME HOME BUYERS ko HOME LOAN INTEREST par additional ₹50,000 deduction deti hai over Section 24(b)'s ₹2L. HISTORICAL WINDOW: Loan sanctioned April 1, 2016 to March 31, 2017 only. CLOSED for new loans. Existing eligible loan holders continue till repayment.
80EE: ₹50K cap, window April 2016-March 2017, stamp duty ≤ ₹50L, loan ≤ ₹35L. 80EEA: ₹1.5L cap (3× higher), window April 2019-March 2022, stamp duty ≤ ₹45L, no loan amount limit. Both first-time buyer + affordable housing focused but 80EEA much more generous.
80EE eligible (2016-17 loan): ₹2L (24b) + ₹50K (80EE) + ₹1.5L (80C principal) = ₹4L total deductions. At 30% slab: ₹1.25L annual tax saving. Continues throughout loan tenure (5-8 years typically).
YES — Section 80EE only old regime. New regime no 80EE. Existing 80EE loan holders must stay in old regime to claim. Annual decision via Form 12BB (salaried) or Form 10-IEA (business).