Sir/Mam,
1. My mother transferred her house to my name and my brother name (joint names), can we get tax exemption? I am staying another town due to job. Now my brother and my self jointly doing new house construction in above same place ( old house demolished).
2. Can we get Tax exemption for Building plan charges
3. Can we get tax exemption on House loan insurance amount.
4.Can we get Tax exemption on House registration charges on bank name (MODD) for hose loan. kindly give me information about tax exception rules.
Thankyou sir.
3 Answers
Hi,
May I now if the transfer was done through a Gift Deed?
As it is an under-construction property, you can not claim tax benefits till you take the possession of the house.
Kindly read:
http://www.relakhs.com/under-construction-house-how-to-claim-tax-deduction-on-home-loan-interest-payments/
Thank you sir, for your immediate response, yes Gift Deed and what about planning charges, and registration charges. we started pre EMI(4500rs) for first released 500000 amount
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