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Start investing in new residential house property

In case you do not yet own your own residential house property then it is time now to start investing in new residential house property so that you can have your dream house.


By Subhash Lakhotia, Tax Guru : CNBC Awaaz, Tax & Investment Consultant


In case you do not yet own your own residential house property then it is time now to start investing in new residential house property so that  you can have your dream house. The investment in residential property would also bring  home for you special tax deduction under section 24 for interest  payment on loan for residential property. The maximum deduction would be Rs.1,50,000 for interest payment. Besides, the repayment housing loan also would enjoy tax deduction under section 80C. It would be  better to buy a house in the name of two or more family members so that each one can enjoy tax deduction. From tax angle it would not be worth just to buy a piece of land because no tax benefit is available only on land purchase. 


The author is Tax and Investment Consultant at New Delhi for last 40 years.  He is also Director of M/s R.N. Lakhotia & Associates LLP & The Strategy Group.E-mail : slakhotia@airtelmail.in



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First Published on Dec 31, 2012 12:34 pm
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