In today’s monetary policy review, the Reserve Bank of India (RBI) has maintained status quo. With the central bank keeping its key policy rates unchanged, the repo rate currently stands at 5.15% and reverse repo rate at 4.90%. The Monetary Policy Committee has also decided to continue with the accommodative stand till required to revive…
Carrying on with its aim to achieve ‘Housing for All’ by 2022, Finance Minister, Nirmala Sitharaman in her Union Budget 2020 speech proposed to extend the tax deduction allowed under Section 80EEA of the Income Tax Act, 1961. Before the announcement, the deadline to avail this additional home loan tax benefit was till March 31,…
In an effort to encourage more people to invest in properties, the government offers multiple home loan tax benefits under the provisions of the Income Tax Act, 1961. You can avail these tax deductions and significantly save on your income tax outgo. To learn about home loan tax benefits and the process to claim them, read below.
A home loan is a high-value and long-term credit. Even a slight increase in its rate of interest can notably increase the total cost of the loan. One of the best ways to save big on your home loan is to look for the lowest possible interest rate offer. It can help you save considerably…
Yes, it is possible to get tax benefit on the second home loan in the same financial year. The tax benefit on two home loans taken for the purchase of two self-occupied properties can be claimed under Section 24(b) and Section 80C of the Income Tax Act, 1961. Currently, an individual can claim tax benefits…
Benefits for Women Home Loan Borrowers in India
India’s real estate sector has been sagging for the past 2 quarters of FY 19-20 due to reasons like tight liquidity condition, default by builders and unaffordability affecting both builders and aspiring home buyers. To help the housing sector to overcome such depressing situations and to increase the affordability of property buyers, lately, the Central…
Want to close your home loan early? Here 6 Smart ways To Close Your Home Loan Faster and Early.