The conditions to be satisfied are as follows:
a) Assessee is individual he may be resident or non resident.
b) The loan is sanctioned between FY 2013-14.
c) Loan is taken from bank or financial company
d) The Amount of loan sanctioned should not exceed Rs. 25 Lakh.
e) The value of residential house should not exceed Rs. 40 Lakhs.
f) The assessee should not own any other residential house on the date of sanction of the loan.
deduction u/s 80EE, Conditions to claim deduction u/s 80EE,income tax This page explains about the the conditions that are needed to be satisfied for claiming deduction u/s 80EE.
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