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What is the tax exemption limit for a home loan?- Property Hotline
Posted
August 4, 2016
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51
August 4, 2016
51
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2:46Now PlayingExpert: Shipra Padhi, Member of International Tax Practice at Nishith Desai Associates.
Question: What is the tax exemption limit for a home loan? Can we get tax exemption benefit if we buy an under-construction house?
Answer: You can claim tax deduction for the constructed property up to Rs2 lakhs. You can also claim Rs1.5 lakhs on principal repayment. No interest deduction is available for purchase of an under constructed house. You can only avail deduction after getting the possession.
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