Hi, house loan on PLOT
by Aman A on Jun 01, 2007 07:59 PM Permalink | Hide replies

Hi I am aplying for a home loan to an open plot with SBI, Can it be considered as an home loan to an open plot, if yes can i claim for tax savings...

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RE:Hi, house loan on PLOT
by prasanna prabhakar chatufale on Jun 01, 2007 11:18 PM Permalink
Whether SBI giving loan for plot?I think ther is a rider that you have to construct a house within 2 years?
I that right?

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RE:Hi, house loan on PLOT
by NOEL GEORGE on Jun 01, 2007 08:40 PM Permalink
Yes,Aman you can apply for tax saving provided your load amount should not exceed Rs.15,00,000

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RE:Hi, house loan on PLOT
by Mrityunjaykumar Gupta on Jun 01, 2007 08:29 PM Permalink
Yes, it will be considered for tax saving but you will get the benefit only after the construction of the house. You can claim the tax benefit for the previous period after construction in 5 annual intalments.

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