New Delhi buyers, what are your best tax hacks?
Vasant Kunj mein property dekh raha tha, aur ek cheez samajh nahi aa rahi thi. I'm a first-time buyer, toh EMI aur down payment ka pressure bahut hai. My CA friend told me about Section 24 and 80C benefits for home loans, but honestly, I didn't know the exact limits. He said for a 3BHK around ₹2 Cr, you can save a lot on tax, especially on interest part. Pehle lag raha tha bas principal pe hi milta hai. This is huge for monthly budgets, right? Kisi ne actually use kiya hai for a property in Dwarka or Saket? I'm looking at some DLF projects. Also, for a 3BHK, is it better to max out these benefits or keep some flexibility? My parents keep saying market bahut volatile hai. Any other hacks for first-time buyers? Hope this helps someone planning to buy soon.
Comments
Exactly! EMI toh pehle hi dimaag kharab kar deti hai, upar se tax ka tension alag. Ye pata chal gaya toh thodi relief mili.
Haan bhai, this tax benefit part is a lifesaver. I was also under the impression that only principal gets the benefit. Section 24 for interest is huge, especially for a 2 Cr loan. My CA said it can save lakhs over the loan tenure. Totally changes the EMI calculation for the first few years.