Buying your dream home, luxury 3 BHK flats in Calicut, is a dream come true. The property you purchased is a long-term investment for you. And when one buys a house on a home loan, it comes with multiple tax benefits.
1. Deduction for Interest Paid on Housing Loan
The borrowers with a home loan can avail deductions on the interest paid on home loan annually. The benefit can be claimed as a deduction to a maximum of Rs 2 lakhs.
2. Tax Deduction on Principal Amount
The home buyer is also eligible for getting a deduction on principal repayment up to INR 1.5 lakhs. To claim this. The property should not be sold within 5 years of possession.
3. Deduction For Stamp Duty and Registration Charges
Apart from claiming for the tax deduction in principal and interest paid the home buyer can also avail tax deduction for stamp duty and registration charges within the inclusive limit of Rs 1.5
4. Deduction for first time home buyers
A tax deduction of maximum up to INR 50,00 is allowed for first time home buyers.
5. Deduction for joint home loans
In the case of a joint home loan, each applicant can claim a tax benefit on home loan interest up to INR 2 lakhs each.
Planning to buy a new home, premium ready to occupy apartments in Calicut, then take a look on Ladder Mankav Greens. The marvellous project offers a premium range of 2,3 and 4 BHK flats in Calicut equipped with most modern amenities and designed with world-class standards.
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