The 4 major tax benefits of real estate investments
Investing in residential properties brings a lot of tax benefits to investors. If you are not aware of the tax benefits that await you, this blog is just what you need to read. So without further ado, let us break down and understand the tax benefits of investing in properties. Section 80C Under this section, the amount you pay for repaying your home loan’s principal amount is allowed to be claimed for a tax deduction. You could claim deductions for the investments you have made for earning an income. Currently, the maximum deduction you could avail of is Rs.1,50,000. The tax benefit would be granted only post the completion of the construction of the property in Navi Mumbai or anywhere else and after receipt of the completion certificate. This section also allows deduction of the interest paid on account of the home loan if the loan is taken for renovating or extending a house. Again, the benefit would be granted after the construction is completed. Section 24B