Benefits of Tax Deductions on Property Investment

Benefits of Tax Deductions on Property Investment

Benefits of Tax Deductions on Property Investment

Indian buyers are witnessing a whole new era of property investment. Rise of townships, family-friendly locations, insurance options, a brand new lifestyle, gated communities, etc. are some of the factors that are alluring buyers to invest in property in Bangalore. Now buying a holiday home atop a hill station or nearby a beach is no longer a dream! It is attainable. A major reason why Indian investors are seeking real estate investment is Tax benefits. Mr. Arun Jaitley – Finance Minister increased the tax deduction limit from Rs. 24,000/- to Rs. 60,000/- on housing rent. He also announced a tax relief of Rs. 50,000/- p.a. on a loan of Rs. 35 lakh in 2016-17 – for first time home buyers. This is conditional to the fact that the home amount should not exceed Rs. 50 lakh. Owners receive tax benefits on their home loan amount and processes involved thereon. When you purchase a house, you can also avail of these benefits. Act fast, now!