One of the mandatory conditions for receiving the benefit is to be the owner of the property in which the finishing is being done. But when applying for a mortgage, the property is registered as the property of the bank. Therefore, the costs can only be compensated after the debt is fully repaid.
At the same time, according to the law, you can return up to 13% of 3 million ₽ spent on mortgage interest - up to 390,000 ₽. This benefit can be used throughout the entire loan term. But only the interest that you have already paid is taken into account.
Once you close the loan agreement and register the property rights, you will have the right to compensate for the costs of purchase and finishing within the standard limits of 260,000 ₽.
What expenses are eligible for the exemption?
You can get back 13% of the following types of expenses:
development of design documentation for finishing;
payment for the services of construction workers who carried out finishing work;
purchase of building materials.
The legislation defines a specific list of works and materials pakistan mobile database that are considered finishing:
installation of electrical wiring, water supply, sewerage, heating, waterproofing and some others.
The benefit is provided only for those works and materials that are necessary specifically for finishing. For example, when installing a water supply system, the cost of pipes and their installation will be taken into account, but the installation and cost of the bathtub will not be compensated.
What documents are needed?
Mandatory documents include:
application for benefits;
passport;
document confirming ownership;
extract from the Unified State Register of Real Estate;
certificate in form 2-NDFL, prepared by the employer;
tax return form 3-NDFL;
receipts, estimates, design documentation for finishing works.
All expenses must be confirmed by receipts, contracts with employees, payment documents and estimates. Each document must detail which goods or services were paid for. Project documentation must be titled "Estimate" or "Project". If another wording is used (for example, "Design development"), the Federal Tax Service will not accept the document as confirmation of finishing expenses.