Composite loan

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Mechanical
215 Points Posted on 27 October 2020
if I buy a plot and plan to construct a house,then in how many years should I complete it ,to avail tax exemption on loan for land and house?
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On 27 October 2020 at 00:33 Report
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Quick Summary
If you're taking out a composite loan to buy a plot and build a house, you need to complete the construction within five years of taking out the loan to qualify for tax exemptions. This applies to both the land purchase and the house construction elements of the loan.

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12244 Points Posted on 27 October 2020
Within 5 years from the date of borrowing loan
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On 27 October 2020 at 09:43
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Tax consultant
5895 Points Posted on 27 October 2020
With in 5 year from the date of your loan
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On 27 October 2020 at 10:12

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