The Russian tax system provides for the possibility of returning to the taxpayer part of the taxes paid by him earlier. Also, Russians have the opportunity to be exempted from the tax burden for a certain period of time in the future.
Each month, each taxpayer receives only 87% of the total part of his income. 13% go to the payment of personal income tax - tax, also called income tax. When buying any dwelling, the taxpayer has the right to receive a tax deduction in order to alleviate the burden of the cost of purchasing a dwelling. Over the past 2013, more than two million Russians took advantage of this opportunity and issued a similar procedure.
Tax deduction rules
A tax deduction is characterized as a return to the taxpayer of part of the funds in a fixed amount, or an exemption for a specific period of time in the future from paying personal income tax within the 13% tax paid to them earlier.
The law establishes the maximum amount of the cost of the purchased housing, based on which the deduction is calculated. Regardless of the price at which the apartment was purchased, the marginal limit of the value of real estate should not exceed 2,000,000 rubles. Thus, the maximum tax refund amount is 260,000 rubles.
In a situation where housing was purchased at a price of less than two million rubles, the remainder of the property deduction can be used later in the acquisition or construction of residential premises. This circumstance is an innovation, since earlier the taxpayer was granted the right to receive a one-time deduction. Even if the amount of the tax deduction received was only 20 thousand rubles, the opportunity to receive the payment again was not provided. However, changes in the Tax Code apply only to transactions made only after January 1 of the current year. The maximum deductible for housing remains the same - 2 million rubles.
How and for what period can you get a tax deduction
Refunds are processed at the tax office upon submission of title documents for real estate, information confirming the fact of payment for housing and certificates in forms 2 and 3-NDFL.
The legislator limited the period for which it is possible to make a refund of previously paid taxes for a period of 3 years. If a taxpayer purchased an apartment in 2014, then it is possible to receive a tax deduction for 2011-2013.
The term for consideration of the application is about 4 months, three of which will take a desk review of the submitted documents.
