Taxation on Commercial Property

Sir, I have one residential property on my name and availing home loan on it. My father is co-borrower in that home loan but he is not co-owner in property. Now I am planning to purchase a commercial property. Bank is ready to give top-up on existing home loan (with same rate & T&C) with different account number for purchasing commercial property,

  1. Can I claim interest paid on top-up loan (which I will be using to buy commercial property) for rebate on my income tax? What are other implications. (I am already availing tax benefits of my existing home loan)
  2. Can I claim Stamp Duty, Registration Fee, VAT or Service tax which I will be paying to buy commercial property as rebate on my income tax?
  3. Should I buy property on my name or on my wife's name or on both names to save taxes in present and in future?

asked Nov 04 '15 at 08:07 by Varad Rathi 11


  1. Tax deduction benefits are available on the top-up home loan for the interest portion under section 24. This is only available in case the new loan is shown as home loan only.
  2. You can't claim tax benefit for stamp duty, registration fees, VAT, service tax etc paid for a commercial property.
  3. There won't be any tax saving available for commercial property.

answered Dec 19 '15 at 18:45 by pankaj 5.2k320

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Asked: Nov 04 '15 at 08:07

Seen: 1,982 times

Last updated: Dec 19 '15 at 18:46