Tax on down payment of purchase of new premises
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 February 2013
Dear expert,
Hi I am confuse about tax on downpayment of new premises, I have paid some amount as tokan money for booking of flat to builder can I get examption in income tax return please tell me under which section I can claim such amount??? Also the amount which I have paid to builder as a tokan money is shown in written agreement.
Hi I am confuse about tax on downpayment of new premises, I have paid some amount as tokan money for booking of flat to builder can I get examption in income tax return please tell me under which section I can claim such amount??? Also the amount which I have paid to builder as a tokan money is shown in written agreement.
CA PARAS BAFNA
(Expert)
24 February 2013
You have been confused by some wrong information. There is no tax concession in respect of down payment to the builder.
.
.
CA Prashant Gupta
(Expert)
25 February 2013
no exemption for that. if it is on loan then you can get benefit on repayment of loan. but no exemption on this
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