According to Article 14 of the Interim Measures for Special Additional Deduction of Individual Income Tax, the taxpayer or his spouse alone or * * * together with the individual housing loan from a commercial bank or housing provident fund purchases a house in China for himself or his spouse, and the interest expense of the first housing loan occurs;
In the year when the loan interest actually occurs, it shall be deducted according to the standard quota of 1000 yuan per month, and the maximum deduction period shall not exceed 240 months. Taxpayers can only enjoy the interest deduction of the first home loan once.
Extended data:
Interim Measures for Special Additional Deduction of Individual Income Tax Article 25 When a taxpayer enjoys the special additional deduction for the first time, it shall submit the relevant information of the special additional deduction to the withholding agent or the tax authorities, and the withholding agent shall timely submit the relevant information to the tax authorities, and the taxpayer shall be responsible for the authenticity, accuracy and completeness of the submitted information. Where the special additional deduction information changes, the taxpayer shall provide relevant information to the withholding agent or tax authorities in a timely manner.
The information related to the special additional deduction mentioned in the preceding paragraph includes the taxpayer's personal identity information such as himself, spouse, children and dependents, and other information related to the special additional deduction as stipulated by the competent tax authorities of the State Council.
China Government Net-Notice on Printing and Distributing the Interim Measures for Special Additional Deduction of Individual Income Tax