Legal & Tax Benefits

Legal Advice

At Royal Crown Infra, our seasoned tax experts will help you save your income tax while investing in under construction flats and properties at Panvel, Navi Mumbai. Signing a title report (received from the solicitor of the property) with any fine print and specific government reservations is unadvisable. Accept clearance reports that are lucid and specific.

Precautionary measures will prevent you from getting embroiled in any future disputes. They will also help ensure that your home loans aren't scrutinized.

Permissions & Approvals

Before a construction begins; the builder must seek several permissions and approvals from relevant bodies. Without these clearances, the construction may come under litigation. Here is a list of documents and approvals that the builder must possess for all building work to commence Mumbai & Kalyan Dombivali Municipal Region.

ULC order (in specific cases)

IOD and CC of the project

MCGM / KDMC approved plans

Tax Benefits

When buying a property with loans from specific financial institutions, tax authorities provide certain benefits and exemptions from tax payments.

Section 24 of the Income Tax Act states that an investor is allowed to deduct an amount equivalent to the total interest payable on the housing loan from his/her taxable income within the same financial year.

According to Section 80C of the Income Tax Act: A deduction u/s 80C (2) (xviii) is available on repayment of the principal during a financial year of up to Rs. 1,00,000/-