To stimulate citizens to improve their living conditions and to formal employment, legislation has established a deduction when buying an apartment or other housing.
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 deductionOccurs when you purchase an apartment for your own money or mortgage, just as you can include the cost of repairing an apartment, if it was bought from a developer with "bare walls."
Such a deduction can only take advantage of oneOnce in a lifetime, and a person has the right to choose a property to receive benefits. The amount of deduction has a limiting value, in 2014 it is 2 million rubles, that is, with a larger amount to return the income tax will not work.
The right to receive such subsidy from the stateHas only 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 is excluded from the purchase of housing from spouses, brothers, sisters, parents, employers and others.
All documents related to the property must beBe available and in perfect condition, as copies will be provided to the tax inspection and carefully checked. If there are errors, blots, inaccuracies in the deduction may be refused.
For those who fall under this deduction, the following package of documents will be required for a refund. If the price of the apartment is paid immediately, without credit:
- declaration of 3-NDFL
- certificate of 2-NDFL for the past year
-;contract of sale of an apartment
- Documents confirming the purchase of housing (payment orders, receipts)
- certificate of registration of ownership
- certificate of acceptance of the apartment
If the mortgage interest is refunded,Additionally provided: a loan agreement, a certificate of interest paid for the year (you can take it in the service bank), payment documents for credit payments.
Return is made 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, at the second place a note on 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.
Second phase. If the deduction is approved, a written 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.