Schedule 80EE – Interest on Loan Taken for Residential House Property

‘Schedule 80EE’ in the Income Tax Return is used to claim the deduction under section 80EE for interest paid on home loans availed for the purchase of a residential house property. The assessee is required to furnish key information such as the name of the lender (bank, institution, or person), loan account number, date of sanction, total sanctioned amount, outstanding balance at the end of the financial year, and the total interest amount eligible for deduction under Section 80EE.