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 is considering a proposal to double the income tax exemption limit on housing loans to Rs 3 lakh from the current level of Rs 1.5 lakh, according to government sources. The proposal is being discussed by the committee of secretaries that was set up in the wake of the global financial crisis affecting the Indian economy. Industry lobby groups have been urging the government to raise the limit as it will reduce the cost of borrowing on home loans.
The proposal will also include providing loans at below market rates to real estate developers. But the loan disbursed under this will come with a number of conditions like an upper ceiling on selling price of flats and individual homes.The government is considering a proposal to make home loans cheaper for consumers through interest subsidy, aiming to stimulate demand in the realty sector which has a spin-off effect on many industries like cement and steel, said a senior government official, who declined to be named.
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;
