Housing Loan

Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-payment of loans. The Competition Commission of India, according to a CCI official, is scrutinising a complaint concerning pre-payment penalty from a customer against major home loan players like HDFC, LIC Housing Finance and Deutsche Postbank. Full Article

The Government today launched an interest subvention scheme of 1% on all individual housing loans upto Rs.10 lakh for units costing upto Rs. 20 lakh. The scheme recognizes that cut in interest rates has an important role to play in reducing EMIs of borrowers & creating additional demand for housing. The Scheme will cover all [...] Full Article

From April 1, 2011, finance minister Pranab Mukherjee has proposed to simplify the income-tax regime by reducing the tax rates on incomes above Rs1.6 lakh per annum (Rs1.9 lakh for women, and Rs2.4 lakh for senior citizens), but the reduced rates will come with few of the current exemptions. Full Article

Having given tax holiday to builders, Finance Minister Pranab Mukherjee today warned that if the incentives are not passed on to the consumers the same may not be extended in future.  “I expect the developers to pass on the benefit of the tax holiday to the home buyers. It should reflect in the prices. Unfortunately it happens in [...] Full Article

The Finance Minister announced a slew of amendments on both income-tax and service tax fronts to achieve the objective of “generating economic activity in the present environment of economic slowdown.” The Lok Sabha later passed the Finance Bill (No 2) 2009, completing the third and final stage of the Budget exercise for 2009-10. Full Article

The Lok Sabha has passed the Finance Bill for 2009-10 by a voice vote on Monday, Finance Minister Pranab Mukherjee has said that economic recovery has begun and India would achieve 8-9 pc economic growth by the end of 2010. Finance Minister Pranab Mukherjee has announced a slew of concessions, including one pc interest subsidy for [...] Full Article

The government is considering a proposal to hike income-tax exemption Make these charges part of your budget available for interest payment on home loans to Rs 2.5 lakh a year, to boost demand and rebuild the slowdown-hit housing industry.The ministry of housing and urban development has urged finance minister Pranab Mukherjee to make an announcement to [...] Full Article

That the property market has undergone a significant correction is well known. That real estate experts are now talking about prices bottoming out is well known too. But, contrary to conventional wisdom, experts are of the view that this may not be the right time to invest in residential property. And, their advice is for both [...] Full Article

Most of the chartered firms may have completed there bank audits or will be on the verge of completion of the same. As you may be aware that Income Tax department has notified the Income Tax Return for the A.Y. 2009-10 but not yet officially released the ITR for the same. I have uploaded the [...] Full Article

All public sector banks may need to take CBI’s clearance before allowing one-time settlement of bad loans by customers under a new direction likely to be issued by the Reserve Bank of India(RBI) soon. The circular, the proposal for which was mooted by CBI (Central Bureau of Investigation) will ask all the banks to seek [...] Full Article