Income Tax : The New Tax Regime restricts Section 24(b) benefits, disallowing set-off of home loan interest against salary income. Taxpayers mu...
Income Tax : Learn how to optimize home loan interest tax benefits for self-occupied and rented properties. Strategies include reducing capital...
Finance : Learn to calculate home loan EMIs with this step-by-step guide. Understand loan amount, interest rates, tenure, tax benefits, and ...
Finance : Learn difference between Loan Against Property and Home Loan. Uncover nuances between two different types of mortgage loans to mak...
Finance : Navigating home loan options can take time and effort. With all the jargon and percentages flying around, making a decision can be...
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 launches ‘Mortgage Guarantee’ backed loans for affordable housing sector First bank in India to offer this facilit...
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 sub...
Finance : The income ceilings of Economically Weaker Section (EWS) and Low Income Group (LIG) presently defined as Rs. 3300 per month per ho...
Finance : Home and auto loan customers will have to shell out more with several public sector banks including the State Bank, Punjab Nationa...
Income Tax : ITAT Mumbai held that interest paid on housing loan borrowed for purchase of flat is not allowable as cost of acquisition....
Income Tax : If second borrowing has really been used to repay the original loan and this fact is proved to the satisfaction of AO, interest pa...
Fema / RBI : 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...
Fema / RBI : While calculating the interest subsidy, each disbursement may be treated as a separate loan and for each disbursement, subsidy cla...
Fema / RBI : It has been observed that some banks are following the practice of sanctioning housing loans at ‘teaser rates’, wherein the lo...
Fema / RBI : Please refer to paragraph 7.5 of our Master Circular dated July 1, 2009 on Lending to Priority Sector, in terms of which loans gra...
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 […]
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.
