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Tax on down payment of purchase of new premises

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 February 2013 Dear expert,

Hi I am confuse about tax on downpayment of new premises, I have paid some amount as tokan money for booking of flat to builder can I get examption in income tax return please tell me under which section I can claim such amount??? Also the amount which I have paid to builder as a tokan money is shown in written agreement.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
24 February 2013 You have been confused by some wrong information. There is no tax concession in respect of down payment to the builder.
.
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
25 February 2013 no exemption for that. if it is on loan then you can get benefit on repayment of loan. but no exemption on this
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