Do you own a Flat in an Apartment / high rise building? (Or) Have you booked a Flat which is under Construction? Then you need to know the importance of documents like Completion Certificate (CC) and Occupancy Certificate (OC). Occupancy Certificate is also known as Possession Certificate (PC). As these certificates are not required while registering […]
Real Estate
Kempegowda Layout – Allotment (2015) of Residential sites by BDA – Details & Eligibility Conditions
Kempegowda Layout is the new layout being developed by BDA (Bangalore Development Authority). BDA has issued final notification inviting applications for Allotment of residential sites in Kempegowda Layout. After years of delay, nearly 5,000 residential sites in Nadaprabhu Kempegowda Layout will be available for the general public. It is estimated that these 5,000 sites on over […]
How to save Capital Gains Tax on Sale of Land / House Property?
Capital asset typically refers to anything that you own for personal or investment purposes. It includes all kinds of property; movable or immovable, tangible or intangible, fixed or circulating. Examples include a house, land, household furnishings, stocks, bonds or mutual funds held as investments etc., When you sell a capital asset, the difference between the […]
Understanding Tax Implications of Income from House / Property
If you own a property which is a building, plot or land attached to such building, then any rental income from such property will be chargeable to tax under the head “Income from House Property”. One important point to be kept in mind is that such a property should not have been used for personal […]
Under Construction House : How to claim tax deduction on Home Loan Interest payments?
A home loan borrower can claim Income Tax exemption on interest payments of up to Rs 2 lakh and another Rs 1.5 lakh under Section 80 C towards the principal repayment. However, you cannot seek these tax benefits in the pre-construction phase (i.e. no tax deductions available for an under construction house), even if you […]
Joint Home Loan : Eligibility rules & Income Tax Benefits
Many home loan borrowers consider taking a Joint Home Loan as a practical option to get higher loan amount and also to avail Income Tax Benefits. Joint Debt has become a part of the Household finance these days. One of the primary benefits of a joint loan is that it increases the borrowing capacity of […]
