Shreyaa Kapoor Instagram – Which asset class gives you the maximum tax benefits?
Well – Real estate! ✨
No matter what step in the process you are at – there are some or the other tax benefits you can avail!🙏🏼
-During Home Purchase and Ownership
Section 80C : Claim up to ₹1.5 lakhs annually on home loan principal repayment
Section 24(b) :Deduct up to ₹2 lakhs annually on home loan interest for self-occupied property
Then if you are renting claim: House Rent Allowance (HRA) Benefits
– If you own a house in a different city and live on rent in current city:
– Claim both HRA deduction on rent paid
– Avail tax benefits on home loan for owned property
Then if you sell that house?🤝
Section 54 – Reinvestment Benefits
– Available when selling a residential property after 24 months
– Capital gains tax exemption if reinvested in:
– One residential house within India (within 2 years of sale)
– Construction of a house (within 3 years of sale)
Section 54EC – Alternative Investment
– Invest capital gains in specified bonds within 6 months of property sale
– Maximum investment cap of ₹50 lakhs
– Bonds must be held for 5 years
Share this with your friends and save this for your reference!🫶🏼
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[home loan, loan tips, house, personal finance, tax tips, taxation] | Posted on 03/Dec/2024 19:00:12
