com/about/tos).
⢠Other Questions
If you had 3 months to learn something new (but cannot leave home), what would you learn?
This is a really general question. It would help if more details were provided, eg. broad interests, current skill set, kind of injury (can you type? can you sit at a table for hours? can you strum a guitar?).Here are some suggestions:ProgrammingLearning to program computers requires only a laptop, an internet connection, and an open mind. You can find many websites/tutorials that will teach you popular languages like C/Java/Python, software packages like Matlab, Django, etc. If you have some familiarity with programming, you could take up a 3 month project and build something cool. You could also contribute to an open source project of your choice (maybe one which you have been using extensively). This will make you understand its codebase (as well as talk to the developers working on the project), which would most likely help you improve your own coding skills.In programming, there is really no end to learning. If you feel like an expert about certain things (common data structures or HTML/CSS development), you could learn about the next level (database systems or web application development), or the next (distributed computing or machine learning algorithms), and on and on.
..The point is that whatever be your current skill level, you will (almost) always find something more to learn about in this (or any other?) field. (To get a more specific answer of what exactly you could spend the three months on, please share details of your current skills and interests.)Online CousesCoursera, Udacity, and other online learning platforms offer online courses in a variety of areas, ranging from software development to psychology to audio engineering. You should check out if any of the currently running courses match your interests. It would be a great way to learn something new.Musical InstrumentsAnother skill which you can learn (to a large extent) without leaving your house, is learning to play a musical instrument. I know for a fact that there is plenty of material (both free and paid) available on the web for learning how to play a guitar, from scratch. There are plenty of Youtube video tutorials to keep you busy for three months. I suspect that it should be the same for other instruments as well.
Again, if you are already familiar with a particular instrument, use this time to take your skills to the next level. Maybe you should consider hiring a professional coach/instructor/mentor.CookingA recipe book, a fully stocked kitchen, an experimental mindset, and hyperactive taste buds. Enough said :)PaintingAlthough you cannot expect to be the next Piccasso with 3 months of painting, if you ever wished to be able express your feelings on a canvas, this is your chance. Find a mentor who has the time to teach you the fine techniques of this art
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Can we claim tax benefit on a under construction property?
Yes, You can claim tax benefits on a under construction property. Many home buyers prefer to purchase a property which is under construction as the prices of ready-to-move homes are costlier than an under construction home. The cost-effectiveness makes an under construction property first choice of many, especially when the property is purchased as an investment. Just like any general home loan, one can even take a loan for under construction property. Such loans are known as under construction home loan. The interest on housing loan under construction is same as a general home loan.
An under construction home loan attracts tax benefits too. A home loan borrower can claim tax benefits. A home loan borrower can claim Income Tax exemption on interest payments of up to Rs 2 lakh and another Rs 1.
5 lakh on principal repayment under Section 80 C. A house loan taken for an under construction property can be claimed for tax benefits once the Occupancy Certificate is received from the builder or after the Possession. The time frame of a home loan under construction is divided into two parts. The time period when the loan has been taken to the time before starting of the construction of the home is known as "pre-construction period". Until construction is complete or acquisition is made, the period is called as "Prior Period". The interest which is being paid in these both periods is called PPI (Prior period Interest).
One can avail tax benefit on under construction house under three sections of income tax act.Section 80CA home loan borrower can gain a benefit of tax saving on home loan principal repayment up to Rs.1,50,000. It means this Rs 1,50,000 will not be counted in the taxable income of the borrower. One can apply for a tax rebate in every fiscal year of the loan tenure. Under this act, a borrower can even apply for a tax rebate on payment of stamp duty charges. The tax exemption can be applied after completion of the prior period.
Section 24BUnder section 24B, a tax deduction can be applied for payment of interest up to INR 2,000,000 on the home loan in every financial year. The maximum benefit for a self-occupied property is up to 2 Lakhs, whereas if the property is rented out and the owner is residing in another rented house then there is no highest limit of how much of the interest paid can be claimed for the tax deduction. But the rent which the owner is gaining will be a taxable income.
Section 80 EEThis is a tax benefit which can be availed only by the first time home buyers. This section provides an additional deduction of INR 50,000 over section 80C and section 80EE. This is a newly launched facility and is applicable for those who have taken a home loan between April 1, 2016, and March 31, 2017. The property value must not be more than 50 Lakhs and the loan amount should not cross more than 35 Lakhs. This benefit can be enjoyed until the end of the tenure.One can avail a home loan for under construction property even before the construction of the home has been started. But the interest which is paid in this 'pre-construction period' will not attract any tax deduction. But once the construction of the house will start, the loan will enter to the prior period, for which tax rebate can be applied. The prior period tax rebate concept works even if the loan amount is utilized for repairs, renewal or reconstruction.
Can we claim tax benefit on a under construction property ?