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Tax benefit on Plot loan

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Tax benefit on Plot loan

Last updated: November 30 2012
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  • Tax benefit on Plot loan

    I know that there is no tax benefit on plot loan, but is there any loophole in the tax book which can be used have benefit on plot loan. Or there any way such that by constructing a small room in the plot I can avail the tax benefits. The reason is that I have taken loan on a plot but I cannot go and live there, so till the time the area becomes habitable I need to have some benefits from it. Guys don't get me wrong, I am not planning to cheat Govt., but just wanted to have some help...
  • #2

    #2

    Re : Tax benefit on Plot loan

    Yes you can claim tax rebate like a normal home loan once you build the house/ room approved by authority & take possession.

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