In today’s scenario where possession of the property within stipulated time is a challenge, Budget 2016-2017 proposes tax relief under Section 24 of I-T Act on interest payment on home loan if the property bought, or under construction, is completed within 5 years from the end of the financial year in which the loan was availed instead of the current 3 years. This could actually help save tax up to Rs. 60000. read more at http://shopsandhomes.com/blog/index.php/2016/03/budget-2016-17-brings-cheer-for-first-home-buyers/
