Housing Loan articles

Disbursement of Housing Loan to Individual Linked to stages of Construction

National Housing Bank (NHB) policy circular no. 96/2019-20 dt. July 19, 2019 Several complaints for offering loan 1. Housing Finance Companies (HFC) were advised while introducing any kind of product ‘Customer suitability’ and ‘Appropriateness’ issues should be taken into account by the Cos. 2. Frauds being committed by certain bu...

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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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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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Double Benefit on Taxes on Housing Loan

The Income Tax Act provides deduction under section 80C against Principal Repayment and exemption under Section 24(b) on Interest payment of Housing Loan. Article explains tax benefit on Housing Loan taken and possession received in the same year and also when possession received in next year....

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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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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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Eight Common Myths & Misconceptions about tax

In this article we have discussed right Myth or Mis-Conceptions related to Income Tax Prevalent in the Mind of General Taxpayers related to Personal Taxation. Article Aims to clear such Mis-Conceptions. The following are some of the myths and real facts related to same:- ....

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Simplify Home Loan Calculations with EMI Calculator

Everyone dreams of having a home to call their own. Since, buying a home requires a huge sum of money, people look for financial aid options that would help in fulfilling their dream. Home loan is a great financial aid that has helped millions realize their dream of having a home of their own. ...

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How a Home Loan Balance Transfer Can Help You Save a Huge sum of Money

Your Home Loan is a secured loan. Compared to unsecured loan options, this huge loan comes at a comparatively less rate of interest. However, when you consider the large amount and the long tenure it takes to pay off the loan, even this low interest rate can cost you a lot. ...

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How Will Home Loan EMIs Change After Demonetization

We’ve all probably dreamt of a dream home at some point in our lives. If youre a step ahead, youve probably seen some of the best Home Loan plans available to you, and considered a few. You might even have applied for a mortgage and thoroughly looked through the Home Loan interest rates, before finalizing on one....

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