Financial Year 2017-18 may not be good for many home loan borrowers with the fact that now the government has reduced interest set off on home loans for rented house properties. So far the understanding (myth) of many borrowers that
Given the choice to opt, a salaried individual always have a dilemma whether to Buy or Lease a car offered from company. Of course, it is quite common for individuals to state that having a car purely a ‘status’ symbol and
I receive many queries with regards to avail tax benefits against repayment of home loan. These are mostly related to joint loan, loans from friends and relatives to purchase/construct house property etc. Some of the queries are; Question…“My spouse (house wife)
Did you know that you can claim pre-construction interest as a deduction along with the interest paid towards home loan outstanding for a particular financial year? I am sure you are! You might have taken a loan before acquiring a
As per section 24b of Income Tax Act, 1961 Interest on borrowed capital (known as Home Loan) is allowed as deduction if such loans are taken for the purpose of purchase, construction, repair, renewal or reconstruction of the house property.
Loss of Job, medical emergency or may be anything which makes you unable to pay your Home Loan EMIs will not be the acceptable reasons for banks not to take any action against you to recover their money unless you
“No upfront disbursal to any incomplete/under-construction/green field housing projects”. This is the instruction by RBI to Banks under its recent notification which seems to be putting an end to those so called “No EMI Till Possession” schemes offered by builders/developers.
There are many instances where a borrower has sound income sources to justify any repayment commitments and there are enough collateral to make him/her eligible for a desired loan amount, but due a devil in his/her fate every time the