Home Loan

Need to introduce separate deduction for repayment of home loan in coming Budget

Income Tax - Home is a basic need of any person in addition to bread and clothes. With rising prices of houses, it is almost impossible for an average person to buy a house without borrowing for it either through housing loans or through loans from friends and relatives. In this article, I wish to point out why the government should take out the p...

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Home Loan Aspirants: It’s time to Smile!

Income Tax - SBI Home Loans are cheaper effective from this May 1st. Cheer up! Now you can enjoy cheaper interest rate on SBI home loan. The RBI (Reserve Bank of India) reduced repo rate by 0.25% (repo rate is the interest charged by the RBI from commercial banks for lending money) for the financial year of 2019....

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5 Things to Consider when Taking a Home Loan

Income Tax - With the rising property prices, a major segment of the middle-class homebuyers have to resort to home loans for buying a house. Since banking operations have gone online nowadays, it would not be difficult to apply for a home loan. However, despite the easy availability of tools like EMI calculator, eligibility calculator and document ch...

Read More

An overview of home loans for first-time home buyers

Income Tax - Purchasing a house is a quintessential dream of every Indian millennial. However, considering the stock market is volatile, buying a home is not that easy. This has increased the demand for home loans. If you are a first-time home buyer, you should be aware of the know-how and functioning of housing loans in the current […]...

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Can a tax payer claim both HRA and home loan benefits?

Income Tax - There is a huge confusion in the minds of taxpayers about whether the tax benefits in respect of House Rent Allowance (HRA)  and the benefits attached with a home loan be claimed in the sqme year. This article intends to clear the doubts in this regard....

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Bajaj Finserv Gives A Major Overhaul To Its Website

Income Tax - Launched in January 2018, Bajaj Finserv’s new website is a perfect example of consumer satisfaction. Why? Well, it’s because of the efforts taken by Bajaj Finserv to make life better for their consumers. Bajaj Finserv, one of the most significant and diversified NBFC of the country, recently re-launched their website to provide a hass...

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ICICI Bank launches ‘Cashback’ home loans

Income Tax - Mumbai: ICICI Bank, India’s largest private sector bank by consolidated assets, today announced the launch of a new home loan, which offers borrowers the benefit of 1% cashback on every EMI, for the entire tenure of the loan. A unique offering in the industry, it is available for home loans with a minimum tenure of 15 […]...

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ICICI Bank slashes home loan rates by upto 30 basis points

Income Tax - ICICI Bank, India’s largest private sector bank by consolidated assets, today announced reduction of interest rates by upto 30 basis points for home loans upto Rs 30 lakh in its bid to boost affordable housing in the country. With this reduction, salaried borrowers can avail home loans at among the lowest rates in the industry. Salaried...

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Credit Linked Interest Subsidy scheme for tax paying Middle Classes

Income Tax - Credit Linked Interest Subsidy scheme for tax paying Middle Classes made effective from January 1 this year. Those sanctioned house loans and applied for since January 1st eligible for interest subsidy of up to Rs.2.35 lakh each...

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‘Mortgage Guarantee’ backed loans for affordable housing sector

Income Tax - ICICI Bank launches ‘Mortgage Guarantee’ backed loans for affordable housing sector First bank in India to offer this facility for retail customers It can enhance a home loan by up to 20% within regulatory norms It allows a borrower to choose an extended loan tenure up to 67 years of age...

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Government Notified Reverse Mortgage Scheme 2008

Notification No.93/2008-Income Tax - (30/09/2008) - NOTIFICATION NO. 93/2008, DATED 30-9-2008 Reverse Mortgage means mortgage of a capital asset by an eligible pcrscn against a loan obtained by him fiom an approved lending institution; reverse mortgagor means the eligible person who has mortgaged the capital asset for the purpose of obtaining loan; ...

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Recent Posts in "Home Loan"

Need to introduce separate deduction for repayment of home loan in coming Budget

Home is a basic need of any person in addition to bread and clothes. With rising prices of houses, it is almost impossible for an average person to buy a house without borrowing for it either through housing loans or through loans from friends and relatives. In this article, I wish to point out why the government should take out the p...

Read More
Posted Under: Finance | ,

Home Loan Aspirants: It’s time to Smile!

SBI Home Loans are cheaper effective from this May 1st. Cheer up! Now you can enjoy cheaper interest rate on SBI home loan. The RBI (Reserve Bank of India) reduced repo rate by 0.25% (repo rate is the interest charged by the RBI from commercial banks for lending money) for the financial year of 2019....

Read More
Posted Under: Finance |

5 Things to Consider when Taking a Home Loan

With the rising property prices, a major segment of the middle-class homebuyers have to resort to home loans for buying a house. Since banking operations have gone online nowadays, it would not be difficult to apply for a home loan. However, despite the easy availability of tools like EMI calculator, eligibility calculator and document ch...

Read More
Posted Under: Finance |

An overview of home loans for first-time home buyers

Purchasing a house is a quintessential dream of every Indian millennial. However, considering the stock market is volatile, buying a home is not that easy. This has increased the demand for home loans. If you are a first-time home buyer, you should be aware of the know-how and functioning of housing loans in the current […]...

Read More
Posted Under: Finance |

Can a tax payer claim both HRA and home loan benefits?

There is a huge confusion in the minds of taxpayers about whether the tax benefits in respect of House Rent Allowance (HRA)  and the benefits attached with a home loan be claimed in the sqme year. This article intends to clear the doubts in this regard....

Read More

FAQs on Housing Loan & Income tax benefit

Home loan entitles Individuals to Deduction Under Section 80C of up to Rs. 1.50 Lakh and Interest Deduction under section 24 of up to Rs. 2 Lakh. Articles deals with Faqs on Benefit U/s. 24 and 80C on Jointly Owned Property, Under Construction Property, multiple properties and Simultaneous benefit of Interest exemption and HRA. ...

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Posted Under: Finance |

When Rs. 2,00,000 maximum interest deduction not available on SOP

We all think that we are eligible for Interest Deduction U/s. 24(b) up to Rs. 2,00,000/- on home loan taken for Self Occupied property. But many taxpayers are not aware that in some cases the deduction of Housing Interest on Self Occupied Property is available only upto Rs. 30,000/- instead of Rs. 2,00,000/-. In this article we have dis...

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Posted Under: Finance |

Interest on Home Loan on Self Occupied House –Tax benefits

If capital is borrowed for reconstruction, repairs or renewals of a house property), then the maximum amount of deduction on account of interest is Rs. 30,000 (and not Rs. 2,00,000)....

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Posted Under: Finance | ,

Tax Benefits on Home Loan

Article deals with Tax Benefit on Home loan under section 80C for Loan Principal Payment, Section 24 for Interest Payment, Tax planning of Home Loan & HRA....

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Posted Under: Finance | ,

Tax & Loan Eligibility benefits from Home loan in Joint Names

Tax benefits of Home Loan- Overall there are two types of tax benefits that are available on the repayment of a housing loan. Interest paid on the loan is eligible for a deduction up to Rs. 1.5 lakh per annum from the taxable income of the individual under Sec 24 when the property is self-occupied or it is one ownership property lying vac...

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Posted Under: Finance | ,

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