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 ...
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.
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 checklists, […]
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 […]
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.
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.
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 discussed Such provisions.
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).
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.
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 vacant.
Know ways of buying your own home loan in a new city with Indiabulls Home Loans. Owning a home in a new city offers you and your family a sense of security and stability. Having your own home in a particular city makes you feel attached to the city and gives you a feeling of belongingness.
