home loan
This query is : Resolved
anuradha dhawan
(Querist)
20 August 2010
sir, i am planning to buy a joint property with my husband. we have seen a housing scheme which is yet to start. if we take a loan for the same shall we get an incometax rebate for the same. house construction of the flats is yet to start. will buying this property help me in tax rebate if i purchase it in this financial year. please help
CMA Ramesh Krishnan
(Expert)
20 August 2010
Housing interest rebate u/s 24 can be avalied only after the construction completed, what ever you are paying interest before construction can be claimed after construction comnpleted in 5 installment.
Self occupied proerty Rs.1.5 lakhs, if the house and loan both are joint name of spouse , both can be claim the Interest rebate
Self occupied proerty Rs.1.5 lakhs, if the house and loan both are joint name of spouse , both can be claim the Interest rebate
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