Tax Exception for newly purchased resale flat
This query is : Open
lalitha moorthy
(Querist)
25 January 2021
Hello Sir,
Myself and my husband bought a resale flat via bank loan in Nov 2020.
Since its a resale, the property is in ready to occupy state and we have paid 11% stamp duty during registration.
We both are employed and tax payers,
Please let me know what kind of tax benefits can be availed for the property.
Thanks
Srilalitha
Myself and my husband bought a resale flat via bank loan in Nov 2020.
Since its a resale, the property is in ready to occupy state and we have paid 11% stamp duty during registration.
We both are employed and tax payers,
Please let me know what kind of tax benefits can be availed for the property.
Thanks
Srilalitha
CA Rashmi Gandhi
(Expert)
25 January 2021
You both claim exemption of interest on housing loan under Sec 24 and repayment of loan under Sec 80C equally.
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