Dear Adviser,
Good Morning !!!
Currently , I am working in a IT Firm , I have booked a flat on LOAN and yet be completed by this month end and in plan to give it for rental the same .Will I get tax benifit ? If yes , how I should proceed . Please advice me.
Regards,
Nishanth A
You can get Tax Benefit as under
1)Repayment of Princial amoun claimed under section 80 C
2)Interest on Housing Loan can be claimed under Section 24 B
3)You can get Flat 30% deduction on Rent ater deducting Municipal Taxes if any paid by you.
CAclubindia
