Nelson joshua's blog

Investing into real estate is something that's done by those who wish for long term returns. But another reason as to why people invest in Real Estate is simply to avail the tax benefits they get from it. A good understanding of the ways in which one can save money from being deducted in taxes is what will result in them saving a lot more.

For instance, the first home that you purchase, that too on a loan, is eligible for deductions under section 80C to upto 1.5 Lakhs. If in case the property is self occupied, then under section 24(b), a 2 Lakh benefit is available. A point worth noting is that this is valid if the construction is completed within 3 years only.