Property tax saving tips; Real Estate Investment | Wife Name Registration | Enter the name of the wife in the registry of the house too: Save ₹ up to ₹ 3 lakhs, know 5 ways to save tax in buying and selling property

1. Stamp duty exemption Stamp duty is found at the price of the house. Under Section 80C, you can take a discount of up to Rs 1.50 lakh. If duty is more than this, then everyone will get equal discount on registering in the name of two or more people. That is, together with the wife, you can deliver this discount to 3 lakh rupees.

2. Cut on interest If you take a loan to buy a house, then in such a situation, you can avail the benefit of cut in total income up to Rs 2 lakh under Section 24 of the Income Tax Act. You can also get up to 1.50 lakh discounts under Section 80C on the principal.

3. Sold one house, exemption on buying a house If you want to buy another house by selling a residential property, Section 54 will help you. Under this, whatever profit has been made by selling old property, if you buy a new property with that full amount, then no tax will have to be paid on the profits made from the old property.

The condition will be that both the properties were sold and purchased. If you want to buy a ready house by selling any other property like land, then in such a situation, there will be a discount under Section 54F of the Income Tax Act. But this deduction will be lower than the exemption received under Section 54 of the same law.

4. Property holds minimum 24 months good If you sell the purchased property after keeping a minimum of 24 months with you, then you will have to pay 12.5% ​​long term capital gains tax. If you sell the property before this, then you will have to pay short term capital gains tax at the normal slab rate.

5. Take a home loan, earn returns from your capital If you have a full cash to buy a house, you can still take a home loan at 8-8.5% buzz. The remaining money can earn 10-15% returns annually by investing in more returns such as mutual funds.