The latest Rs step three.5 lakh of deduction readily available for affordable housing generated sense when the attention costs toward home loans had been 8-9 percent
There was good news the very first time family-buyers in search of a reasonable house costing doing Rs 45 lakh. Funds Minister Nirmala Sitharaman longer new taxation positives significantly less than Section 80EEA of your Taxation Act, 1961, by an extra season till .
End up being you to definitely as it can, in the current low-value interest circumstances and also the signal governing the amount of mortgage approved to own a home, tend to property visitors have the ability to maximize that it extension? The answer try a zero. Is as to the reasons.
Around Point 80EEA, a homebuyer to find a property as high as Rs forty five lakh was entitled to score even more tax benefit of Rs step 1.5 lakh toward fee interesting to the financial. This will be plus the Rs 2 lakh available not as much as Section twenty four (b). Thus, the total tax exception towards the commission interesting to the financial rises in order to Rs step three.5 lakh.