Tax Affairs Solved For Buying a New Home

Looking For a Loan?

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Why Apply with Dialabank?

Compare across 18 Banks
Get Money in 30 Mins
Loan Amount Up to 5 Crore
Hassle-free Disbursal
Unbiased Experts Advice

Know All About Tax Affairs Solved For Buying a New Home

Tax Affairs Solved For Buying a New HomeQuerries related to Tax for buying a new home can cause a bit trouble. While going through some facts, a slight reading can help you a lot. In this article, we will provide you with a brief about tax in relation to buy a new house.
 

Buying residential property is a long duration investment plan.

Let suppose you have a budget of 55 to 60Lac & you’re interested in investing in residential property.

  1. From 1st June 2013,  a new edict has been formed. A deduction of 1 percent occurs if you invest more than 50Lac.
  2. If Value in the Stamp Paper is lower than acceding value, then the distinction is considered as your income.
  3. A Privilege is given, if a person sells an old house (Owning for more than 3 year) then you can have an exception of that long-term capital. Same goes with assets & shares sales.
  4. Knowledge of wealth tax is mandatory.
  5. Any loan taken for buying the residential property can help you claim the deduction to max at 1.5Lac.

 

 

Share This

Menu