Tax Benefits of Buying at Godrej Bannerghatta
How investing in a home can help you save on income tax.
Buying a home at Godrej Bannerghatta is not just an emotional decision but a financially smart one, thanks to various tax deductions available under the Income Tax Act.
Section 80C (Principal Repayment)
You can claim a deduction of up to ₹1.5 lakhs per financial year on the principal repayment of your home loan.
Section 24(b) (Interest Payment)
For a self-occupied property, you can claim a deduction of up to ₹2 lakhs per year on the interest paid on your home loan.
Joint Home Loan Benefits
If you buy the apartment jointly with your spouse and take a joint home loan, both of you can claim these deductions separately, effectively doubling your tax savings.
Pre-Construction Interest
Interest paid during the pre-construction phase can be claimed in 5 equal installments after possession, ensuring you don't lose out on benefits during the construction period.