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Q: What is the procedure to buy under construction flat?

Latest Answer: The Section 80C allows tax benefit for the amount paid towards the Stamp Duty and the Registration process. However, the tax rebate on principal repayment may not be allowed when the property is under construction.If there is a delay in the project and the possession doesn’t happen on the given date, one cannot get the tax benefit for the principal and the interest. One can avail the tax benefits at the time of filing the income tax returns.
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