02 July 2024
Hi, My husband is a salaried employee in pvt sector.We are owning a flat now and we are planning to buy a land in a gated community. I m a housewife. I have some queries regarding related to income tax regarding this. 1. Will we have to do anything for TDS aur they will be doing the formalities? 2. Will I get housing loan as registration charge is less in case of females? 3. Can we show in ITR any one house as let out and another as self owned? 4. Within how much time house should be completed for claiming tax deduction on both interest and principal amount? 5. How much amount can be claimed as deduction every year? 6. How will we calculate pre construction period?will it start from the day we register our plot? 7. How will the tax implications be if we buy land now and construct house after 2 years taking loan for land now and home construction later?
CAclubindia
