This right is granted to tax residents of Russia who work under an employment contract and pay personal income tax. That is, individual entrepreneurs who use a simplified tax system and are exempt from paying personal income tax cannot take advantage of the benefit. It is also not available to self-employed people who pay a reduced tax, and to persons working without official employment.
The right to a benefit does not depend on how the property was purchased - with your own funds or with a mortgage. The main requirement is that it must be in your ownership and on the territory of Russia.
How much money can be returned
There are two restrictions within the framework of the benefit:
the total amount for which a property tax deduction is due is 2 pakistan mobile database million ₽. But you can only get back 13% of this amount - 260,000 ₽. This money can be returned in one go or received in several payments for different expenses.
the amount of the payment cannot exceed the amount you paid as personal income tax for the previous three years. That is, you can only compensate the entire 260,000 ₽ if you paid personal income tax on 2 million ₽ for the previous three years.
When to use the benefit
Since every resident of Russia has the opportunity to receive a property tax deduction directly for the purchase of an apartment, it does not always make sense to use this benefit for finishing expenses. It is worth assessing the prospects in advance and, perhaps, not wasting time collecting contracts and receipts for finishing work. For clarity, we will give three examples.