Tag Archives: Housing Loan

Section 80C of the Income Tax Act, 1961 deals with deductions in respect of certain payments during the previous year from the total income of an Individual or HUF subject to a maximum of Rs.150000. Instalment payment towards the property loan or repayment of housing loan is one of the …

  Taking Home saver account offered by many bank Viz SBI (SBImaxgain), HSBC (Smart Home), SCB (HomeSaver), IDBI (HomeLoan Interest Saver), Citi Bank (Home Credit) instead of normal housing loan will have many benefits and you can use this as a tool to save income tax.   In our other article ‘Looking …

  Are you planning to take home loans in the near future? If so, we suggest you to do some homework. If you see the advertisements of various banks and Non-Banking Financial Companies (NBFC), they highlight the interest rate on home loans. But according to us, there are many more …

  Those who have tried taking a housing loan from the bank would have experienced the pain of furnishing the information and documents to them. Most of the bankers don’t have a complete checklist of requirements and most of the Managers/executives don’t have a clear understanding of the loan process. …

Possession of the property To claim the deduction of Interest payment, the house must be completed and taken possession.  However, for taking tax benefit on principal, repayment can be taken from the year you start repaying the loan Rental Income To claim tax benefit on housing loan towards a property …

The possession of the property To claim the deduction of Interest payment, the house must be completed and possession taken.  However, for taking tax benefit on principal repayment, it can be taken from the year you start repaying the loan. The Principal Repayment The principal repayment towards housing loan up …