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Would buying land be tax exempt or not?

Will buying a land come under Home Loan or Land Loan? Would buying land be tax exempt?

If you are buying land to construct a house, the tax exemptions of a home loan will apply. You will be able to claim the exemptions only post completion of the property. If you are buying land purely for investment purposes, the tax exemptions do not apply.

Submitted by Ritika on Fri, 07/18/2008 - 10:45.

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