Exemption for handicapped persons

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Harvinder (Querist)
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03 February 2014 i puchased a under construction property at chandigarh and made 2 payments of 1110392/- each on 20/10/12 and 20/4/13 i am a physically handicapped person and want to know if there is any exemption for
us

Yogesh Agarwal

Yogesh Agarwal (Expert)
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03 February 2014 on what you want to know the exemption?.. Merely buying a property does not qualify for the exemption under income tax. Exemptions are available in the form of deduction from gross total income if you have been repaying a house loan taken to buy that property... or if any long term capital gain arising to you, then also exemption is available on buying property....

Harvinder

Harvinder (Querist)
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05 February 2014 i purchased the house from chandigarh housing board at the time of instalements they did not ask for any thing like service tax now they are demanding it i.e why i asked that being handicapped can i avail any type of exemption on it

Yogesh Agarwal

Yogesh Agarwal (Expert)
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05 February 2014 No there is no such kind of exemption available...but you may restrain from payment of service tax if nothing is mentioned in the agreement...

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