Personal income tax can be reduced by 1000 yuan if there is a mortgage, as follows:
1. When applying for special additional deduction of housing loan interest, a fixed deduction will generally be made according to the standard of 1000 per month, and the maximum deduction period will not exceed 240 months. Of course, if you are a married person and both husband and wife bought a house before marriage, then after marriage, in addition to choosing a set to be deducted by the buyer according to the deduction standard of 100%, you can also choose to deduct the houses you bought separately according to the deduction standard of 50%, that is, 500 per month;
2. After the declaration is successful, it will take about 15 to 20 working days to submit it to the local tax bureau for review. It takes about 7 to 15 working days to submit the tax to the state treasury for processing after it is approved. After the treasury completes the processing, the tax refund will be credited to the taxpayer's bank card. During this period, taxpayers can log in to the tax refund APP at any time to check the tax refund record.
Not all mortgages are tax-free. It must be a house that enjoys the interest rate of the first home loan, and it is in the state of repayment, and the loan type is pure commercial loan or provident fund loan. You don't need a mortgage before marriage, but you can buy a house with a loan before marriage and a house with a loan after marriage. Only one house can be enjoyed. If the lender's mortgage meets the above requirements, you can declare the housing loan interest on the tax APP. After being submitted and approved, the monthly tax reduction can be 1000, and the maximum tax reduction can only be 240 months, that is, the maximum tax reduction can be 240,000 yuan.
How to apply for extension of mortgage loan
The borrower needs to apply to the bank 30 working days in advance. After submitting the application, the bank will generally review it within 5-7 working days. If approved, the borrower can go to the bank outlet to handle the mortgage extension business. However, it should be noted that it is very difficult to apply for deferred repayment. Under normal circumstances, the bank will not agree to your application for loan extension. Unless there are special circumstances, the application for loan extension will generally be rejected.
I hope the above content can help you. Please consult a professional lawyer if you have any other questions.
Legal basis: Article 14 of the Interim Measures for Special Additional Deduction of Individual Income Tax.
If taxpayers or their spouses use individual housing loans from commercial banks or housing accumulation funds alone or jointly to purchase housing for themselves or their spouses in China, the interest expenses incurred in the first housing loan shall be deducted according to the standard quota of 1 000 yuan per month in the year when the loan interest actually occurred, and the maximum deduction period shall not exceed 240 months. Taxpayers can only enjoy a first home loan interest deduction.
The term "first home loan" as mentioned in these Measures refers to the housing loan that enjoys the interest rate of the first home loan when buying a house.