TAX PLANNING BY INVESTMENT IN CONSTRUCTION OF HOUSE PROPERTY

YOUR HOUSE CAN SAVE YOUR TAX

IF YOU ARE PLANNING TO CONSTRUCT YOUR HOUSE, YOU CAN SAVE TAX FROM THE CONSTRUCTION OR ANY MATERIAL REPAIR.

IF YOU ARE CONSTRUCTING HOUSE BY TAKING HOUSING LOAN FROM ANY FINANCIAL INSTITUTION THEN ANY SUM PAID ON AMOUNT OF PRINCIPAL OR INTEREST, ONE CAN CLAIM DEDUCTION UNDER SECTION 80C FOR THE AMOUNT OF PRINCIPAL PAID DURING THE YEAR BUT MAXIMUM OF Rs 1,20,000 AND CAN ALSO CLAIM DEDUCTION UNDER SECTION 24 ON AMOUNT OF INTEREST PAID DURING THE YEAR BUT SUBJECT TO Rs 1,50,000 or 30,000 (as the case may be).

HOWEVER, IF THE HOUSE IS CO-OWNED BY THE INDIVIDUALS THEN BOTH CAN CLAIM THE ABOVE SAID DEDUCTION.

SO ONE CAN CONSTRUCT HOUSE AS WELL CAN UTISILE THE SAID TAX EXEMPTION PROVIDED BY GOVERNMENT

FOR ANY QUERY PLEASE WRITE TO US!!!

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