Income Tax : Discover the essentials of home loans, including eligibility, considerations before applying, benefits like tax exemptions, and th...
Finance : Unlock secrets to smarter home loans in India. Learn how to save on interest, secure your financial future. Navigate pitfalls, imp...
Finance : Learn difference between Loan Against Property and Home Loan. Uncover nuances between two different types of mortgage loans to mak...
Income Tax : Understand Section 24(b) of the IT Act for pre-construction interest on home loans. Learn when to claim deductions with a detailed...
Finance : Navigating home loan options can take time and effort. With all the jargon and percentages flying around, making a decision can be...
Finance : Launched in January 2018, Bajaj Finserv’s new website is a perfect example of consumer satisfaction. Why? Well, it’s because o...
Finance : Mumbai: ICICI Bank, India’s largest private sector bank by consolidated assets, today announced the launch of a new home loan, w...
Finance : ICICI Bank, India’s largest private sector bank by consolidated assets, today announced reduction of interest rates by upto 30 b...
Corporate Law, Income Tax : Credit Linked Interest Subsidy scheme for tax paying Middle Classes made effective from January 1 this year. Those sanctioned hous...
Finance : ICICI Bank launches ‘Mortgage Guarantee’ backed loans for affordable housing sector First bank in India to offer this facilit...
Income Tax : During the appellate proceedings, the assessee has submitted that it has taken loan for purchase of two residential properties whi...
Income Tax : Vishwa Kalyan Society Vs DCIT (ITAT Ahmedabad) Brief facts of the case are, that the assessee is a Charitable Trust, having income...
Income Tax : The issue under consideration is whether the default in home loan by the owner of the property can be the reason to disallow the c...
Income Tax : NOTIFICATION NO. 93/2008, DATED 30-9-2008 Reverse Mortgage means mortgage of a capital asset by an eligible pcrscn against a loan ...
The government may modify the draft direct tax code to retain tax shelters on interest and principal repayments for home loans to make the proposed new code more attractive for the average Indian, a finance ministry official told .The proposed direct taxes code, which has been unveiled for public debate and is due to become operational from April 2011, does not provide tax incentives to loan-funded house purchases that are for personal use.
Banks are making a strong pitch to the government for permission to issue tax-free bonds to fund infrastructure projects. Bankers, who are expected to again take up the issue with the finance ministry next week, are arguing that the bonds will help them raise long-term resources and reduce dependence on retail fixed deposits, whose maturity is getting shorter. In recent months, banks have been saddled with deposits in the one-year maturity bucket, while infrastructure loans have a tenure of 15-20 years.
We are producing below the clarification in regard to the above published on ICAIs website. 13th September, 2009 The Editor. The Economics Times, Times House, 7, Bahadur Shah Zafar Marg, New Delhi – 110002 This has reference to the lead news item entitled “ICICI Bank’s Rs. 10K-cr bad loans under lens“ by Mr Anand Rawani published in your esteemed […]
THE INSTITUTE of Chartered Accountants of India (ICAI) has raised questions about ICICI Bank’s home loans business and has sought a fresh central bank audit of a two-year-old sale deal of dud loans, after a Mumbai-based chartered accountant spotted irregularities in some loans.“The regulator should re-audit assets sold to ARCIL,” ICAI president Uttam Prakash Agarwal […]
The Direct Tax Code is a bit of a mixed bag for individuals, particularly the salaried class. Prima facie, the tax liability will reduce significantly as the draft code proposes to tax incomes up to Rs 10 lakh at 10%, that between Rs 10 lakh and Rs 25 lakh at 20% and sum in excess […]
If you think the new direct tax code unveiled by finance minister Pranab Mukherjee on Wednesday will save you tax, think again. For taxpayers in the lower brackets, taxes may actually go up, depending on various assumptions. People who make substantial income from buying and selling shares may also lose out.
As per the Reserve Bank of India (RBI)’s guidelines on lending to Priority Sector, the following types of home loans extended by the Scheduled Commercial Banks (SCBs) are eligible to be classified as Priority Sector Advances :- i) Loans upto Rs. 20 lakhs, irrespective of location, to individuals for purchase/constructi on of a dwelling unit […]
Competition is again hotting up in the home loan segment. With home sales falling, banks and housing finance companies are on an overdrive to expand their credit portfolio, leading to claims and counter-claims. Even as other PSU banks have quietly started following the SBI way to freeze home loan rates at 8 per cent for […]
Home loan borrowers are increasingly shifting loans from private sector mortgage lenders to public sector banks (PSBs) to take advantage of the wide difference between the interest rates for existing borrowers of private lenders and new borrowers of PSBs, said executives of two public sector banks. Take the case of Rajat Sharma (name changed), a […]
Local police have found at least 3,000 automobiles — sedans, SUVs, regulars — abandoned outside Dubai International Airport in the last four months. Police say most of the vehicles had keys in the ignition, a clear sign they were left behind by owners in a hurry to take flight. The global economic crisis has brought […]
