Booking amount paid to the builder is taxable or not
This query is : Resolved
19 December 2012
Respected Sir,
I had given Rs.192000/- as a booking amount (Token Amount) to the builder by the cheque and the builder had given me receipt for the same. Till now, I have not taken any home loan. I want to know whether this amount is exempted or not, if yes then under which section. Please reply me as early as possible.
Thanks & Regards.
I had given Rs.192000/- as a booking amount (Token Amount) to the builder by the cheque and the builder had given me receipt for the same. Till now, I have not taken any home loan. I want to know whether this amount is exempted or not, if yes then under which section. Please reply me as early as possible.
Thanks & Regards.
Pankaj Gupta
(Expert)
19 December 2012
You can claim deduction under section 80C upto a limit of 1 lakh . No deduction is possible under any other section.
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