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deductions on purchase of a new house

This query is : Resolved 
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(Querist)
18 September 2008 Kindly tell that if a person who has been abroad on deputation for 3 years. And now after returning to India He wants to purchase a new House in Metro City...
How to Purchase the house to get maximum tax benefits and Wealth Tax Benefits????
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CMA Jitendra Singh

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CMA Jitendra Singh (Expert)
18 September 2008 one residential housing unit for an individual is exempt from wealth tax.

Please give sources of income for other planning advice
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Padmanabh

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Padmanabh (Querist)
07 October 2008 can u kindly tell me under what section one resi house is exempt... I could not find the same.
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