Housing Loan

The government will take inputs from various stake holders before giving final shape to Direct Taxes Code, said the Finance Minister Pranab Mukherjee while addressing the second meeting of the parliamentary consultative committee attached to the Ministry of Finance, here today. Full Article

All we need to do is to bring some changes in our habits and do the tax planning for the financial year 2009-10 in advance. Moreover before one decides for tax saving one should look into the all the list of probable deductions under which one gets benefits of tax saving. Full Article

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