hello All
Some questions on the budget 2013.
As per the new budget announcement “Home buyers can claim an additional deduction of interest of Rs 1 lakh to be claimed in 2014-15 over and above the deduction of Rs 1.5 lakh available now for loan upto 25Lakh”
Say if this is finalized in the budget 2013, then
1. Is this benefit only for direct home buyers (ready to occupy) or its valid for the homeloan taken for construction purpose too?
2.Will this be considered for loans sanctioned by banks after April 1st Or only for loan applications after april 1st.
My loan is for construction purpose & is in sanctioning process with the bank now. so i’m not sure if this will benefit me or not if i sign the loan agrrement after april 1st.
request for your comments and advice.
Thanks in Advance
Jayesh