Property Tax Rules: You are thinking of buying land and if you buy this land in the name of your wife, then you get many benefits. You get many benefits in terms of tax as well as duty etc. Let us know about it in detail.
You must have seen many people insisting that whenever they buy a property, the property should be bought in the name of women. Because of this, people buy a lot of property in the name of their wife or mother. However, there are many benefits in buying property in the name of a woman, which is why people are advised to do so. Actually, they get many benefits along with tax in the purchase of property.
In such a situation, today we will tell you why buying property in the name of women can be a very good decision. Also let us know what are the benefits of buying property in the name of women.
Get tax benefits
Women are also given many benefits in income tax. If there is property in their name then they are given a lot of benefits. In such a situation, more tax can be saved by doing a little calculation on the property of women. Therefore, a lot of tax can be saved by owning property in the name of women.
Help is also available in home loan
If you are buying a property through loan, then in this situation women get a lot of benefits in home loan. They get loans at cheaper rates and men may have to pay more interest. For example, State Bank of India gives a discount of 0.05 percent i.e. 5 basis points to women on taking home loan. In such a situation, buying property in the name of women can be a good decision for you.
Benefit in stamp duty also
Not only this, in many states, if the registry is in the name of a woman, then there is a lot of exemption in stamp duty. Women get a discount of about 2 percent, due to which your work gets done at a cheaper rate. Let us tell you that stamp duty is calculated on the basis of circle rate of the property or consideration amount, whichever is higher. Apart from this, many other types of taxes are also exempted.
