What is a tax credit when buying an apartment?
What is a tax credit when buying an apartment?
To stimulate citizens to improve housingconditions and to official employment by the legislation the deduction at purchase of an apartment or other habitation has been established. The meaning of the benefit is that the owner can return part of the money spent on the purchase.
Who is tax deductible when buying an apartment?
Right to receive a property deductionarises when you purchase an apartment for your own money or mortgage, just as you can include the cost of repairing the apartment, if it was bought from the developer with "bare walls." This deduction can only be used once in your life, and a person has the right to choose Object of real estate for obtaining benefits. The amount of deduction is of utmost importance, in 2014 it is 2 million rubles, that is, with a higher amount to return the income tax will not work. The right to receive such subsidy from the state is owned only by the owner of the apartment, provided that the payment for the apartment was made personally. The seller should not be associated with the buyer, the deduction of the deduction for the purchase of housing from spouses, brothers, sisters, parents, employers and others is excluded. All documents related to the property must be available and in perfect condition, since copies will be provided to the tax Inspection and carefully monitored. If there are errors, blots, inaccuracies in the deduction may be refused.Documentation process
For those who fall under this deduction, forreturn the money will need the following package of documents. If the cost of the apartment is paid immediately, without credit funds: - 3-NDFL declaration - passport-reference 2-NDFL for the past year - apartment purchase agreement - documents confirming the purchase of housing (payment orders, receipts) - certificate of registration of property rights- the certificate of receipt and transfer of the apartment-INNESLE makes a return of mortgage interest, additionally granted: a loan agreement, a certificate of interest paid for the year (you can take it in the service bank), payment documents for credit payments. Is found in two stages. The first is the preparation of a 3-NDFL declaration and supporting documents. The tax office submits a declaration, copies of all the above documents are attached to it. The originals should also be kept for inspection by the inspector. It is advisable to have two copies of the declaration, on the second to put a note on the admission and subsequently leave it at home. The deadline for submission of the declaration is once a year, until 30 April. Consider the request for a deduction and check the declaration will be three months, then the tax will give an answer. The second stage. If the deduction is approved, an application shall be written in the prescribed form and a copy of the bank details to which the funds will be transferred will be attached.
