Housing Loan

How is a Loan Against Property Different from a Home Loan

Finance - Learn difference between Loan Against Property and Home Loan. Uncover nuances between two different types of mortgage loans to make informed decisions. ...

SMFG Grihashakti Home Loan: How does it differ from other home loan options?

Finance - Navigating home loan options can take time and effort. With all the jargon and percentages flying around, making a decision can be unclear. You're probably thinking about the hefty down payment of long-term financial commitments or wondering if you've chosen the right interest rate....

Comprehensive Guide to Secured and Unsecured Loans in India

Finance - Discover the various types of loans available in India, including secured loans like home loans, gold loans, vehicle loans, and more, as well as unsecured loans like personal loans, short-term business loans, education loans, and credit cards. Understand the advantages and disadvantages of each loan type to make informed borrowing decisio...

Deduction of interest on loan to purchase a residential home for which possession is pending

Finance - Whether or not the assessee was entitled to a deduction for interest paid on a loan used to purchase a residential home since he had not taken possession of the property...

Additional Deduction of Interest on Housing Loan

Finance - Any taxpayer who has purchased or constructed a house with a borrowed capital is allowed a deduction with respect to interest paid on such loan under section 24(b) of the Income Tax Act. Such deduction of interest under section 24(b) is allowed up to Rs 2,00,000/- With the objective of ‘Housing for All’, government of […]...

ICICI Bank launches ‘Cashback’ home loans

Finance - 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 […]...

‘Mortgage Guarantee’ backed loans for affordable housing sector

Finance - 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...

Housing loans of Rs 15 lakh to get 1 Percent interest subvention – Budget 2011-12

Finance - The government on Monday said low-cost housing loans of Rs 15 lakh (Rs 1.5 million) will be eligible for one per cent interest subsidy, which will help in increasing the demand for such housing. In his Budget speech, Finance Minister Pranab Mukherjee said he is liberalising the existing scheme of one per cent interest subvention on housin...

Income ceiling per month per household for purposes of housing loans revised

Finance - The income ceilings of Economically Weaker Section (EWS) and Low Income Group (LIG) presently defined as Rs. 3300 per month per household and Rs. 3301-7300 per month per household respectively for the purpose of housing loans were fixed on 2006 prices....

Home Loan will cost more as teaser rates are coming to end

Finance - Home and auto loan customers will have to shell out more with several public sector banks including the State Bank, Punjab National Bank and Bank of India (BoI) deciding to end the concessional or limited period loan regime, popularly called teaser rates....

Interest paid on housing loan not allowable as cost of acquisition

DCIT Vs Narendra Gehlaut (ITAT Mumbai) - ITAT Mumbai held that interest paid on housing loan borrowed for purchase of flat is not allowable as cost of acquisition....

Interest on home Loan availed of to repay earlier loan is allowable U/s. 24(b)

Akulu Nagaraj Gupta Subbaraju Vs. ITO (ITAT Bangalore) - If second borrowing has really been used to repay the original loan and this fact is proved to the satisfaction of AO, interest paid on the second loan would also be allowed as deduction under section 24....

Guidelines on 1 Percent interest subvention Scheme on housing loans upto Rs. 10 lakh –

RBI/2010-11/481 RPCD.SME & NFS. BC. No. 62/06.11.01/2010-11 - (21/04/2011) - RPCD.SME & NFS. BC. No. 62/06.11.01/2010-11 - In para 43 of the Union Budget Speech of 2011-12, it has been proposed to liberalise the existing scheme of interest subvention of 1 per cent on housing loans by extending it to housing loan upto Rs.15 lakh where the cost of the house does not exceed Rs....

Scheme of 1 Percent interest subvention on housing loans up to Rs. 10 lakh

RBI/2010-11/ 399 RPCD.SME & NFS. BC.No. 52/06.11.01/2010-2011 - (08/02/2011) - While calculating the interest subsidy, each disbursement may be treated as a separate loan and for each disbursement, subsidy claim may be made for twelve instalments. For loans fully disbursed at one stroke, subsidy will be provided upfront on the entire amount of the loan disbursed. Subsidy has t...

RBI increases LTV Ratio, Risk Weight and Provisioning in respect of Housing Loans by Commercial Banks

RBI No.2010-11/324 DBOD.No.BP.BC. 69 /08.12.001/2010-11 - (23/12/2010) - It has been observed that some banks are following the practice of sanctioning housing loans at ‘teaser rates’, wherein the loans are offered at a comparatively lower rate of interest in the first few years, after which rates are reset at higher rates. This practice raises concern as some borrow...

Priority Sector Lending – Loans to Housing Finance Companies

RBI/2009-10/263, RPCD.CO.Plan. BC.46/04.09.01/2009-10 - (18/12/2009) - Please refer to paragraph 7.5 of our Master Circular dated July 1, 2009 on Lending to Priority Sector, in terms of which loans granted to Housing Finance Companies (HFCs), approved by National Housing Bank for the purpose of refinance, for on-lending to individuals for purchase/construction of dwel...

Recent Posts in "Housing Loan"

How is a Loan Against Property Different from a Home Loan

Learn difference between Loan Against Property and Home Loan. Uncover nuances between two different types of mortgage loans to make informed decisions. ...

Posted Under: Finance |

SMFG Grihashakti Home Loan: How does it differ from other home loan options?

Navigating home loan options can take time and effort. With all the jargon and percentages flying around, making a decision can be unclear. You're probably thinking about the hefty down payment of long-term financial commitments or wondering if you've chosen the right interest rate....

Posted Under: Finance |

Interest paid on housing loan not allowable as cost of acquisition

DCIT Vs Narendra Gehlaut (ITAT Mumbai)

ITAT Mumbai held that interest paid on housing loan borrowed for purchase of flat is not allowable as cost of acquisition....

Comprehensive Guide to Secured and Unsecured Loans in India

Discover the various types of loans available in India, including secured loans like home loans, gold loans, vehicle loans, and more, as well as unsecured loans like personal loans, short-term business loans, education loans, and credit cards. Understand the advantages and disadvantages of each loan type to make informed borrowing decisio...

Posted Under: Finance |

Deduction of interest on loan to purchase a residential home for which possession is pending

Whether or not the assessee was entitled to a deduction for interest paid on a loan used to purchase a residential home since he had not taken possession of the property...

Posted Under: Finance | ,

Additional Deduction of Interest on Housing Loan

Any taxpayer who has purchased or constructed a house with a borrowed capital is allowed a deduction with respect to interest paid on such loan under section 24(b) of the Income Tax Act. Such deduction of interest under section 24(b) is allowed up to Rs 2,00,000/- With the objective of ‘Housing for All’, government of […]...

Posted Under: Finance |

Benefits of Housing Loan

1. Tax benefits:- 1. Section 80 C :- Upto 150000 of principal repayment 2. Section 24(b):- Interest on borrowed capital as follows :- a) In respect of let-out property, actual interest incurred on capital borrowed for the purpose of acquisition, construction, repairing, re-construction shall be allowed as deduction. b) In respect of self-...

Posted Under: Finance |

Save Taxes the Right Way (Invest+Tax Savings)

It’s that time of the year when you need to invest in different investment products to enable tax savings for FY 2021-22 OR else regret after March that you did not utilize the benefit of various deductions available for you Now a days, nobody wants to invest just for Tax savings, everybody wants such investment […]...

Posted Under: Finance | ,

Bank Audits 2021- Decoding Housing Loans

The housing loan is the “Priority Sector Lending”. The Reserve Bank of India, through its Master Direction on the subject of housing loan have advised the bankers adhere to the National Building Code (NBC) formulated by the Bureau of Indian Standards (BIS) in view of the importance of safety of buildings especially against natural dis...

Posted Under: Finance |

How to make use of a home loan EMI calculator

A home loan is one of the most popular ways for young homeowners to own homes. With the soaring costs of houses across the country, a home loan is the best way for people to buy their dream homes. With lenders going digital, it is now possible for borrowers to research lenders and their loan […]...

Posted Under: Finance |

Browse All Categories

CA, CS, CMA (6,855)
Company Law (10,048)
Corporate Law (13,500)
Custom Duty (10,808)
DGFT (5,153)
Excise Duty (5,616)
Fema / RBI (5,760)
Finance (6,482)
Income Tax (49,766)
SEBI (5,330)
Service Tax (4,889)