Property Investment is a big craze in India among all asset classes. One of the factors which boost Property Investment is income tax deductions on Home Loan. It is one of the reasons for very high property prices in India. In my opinion, Home Loan Tax deductions are more of a subsidy. If you are buying a property for self-occupation, then you should buy without giving 2nd thought. It makes perfect logical and financial sense. In this post, we will discuss the scenario wherein buyer purchase property for PURE investment purpose, i.e., the property is let out. Few years back, Property ... Read More
Income Tax – 51 Important Points
Last date of Income Tax Return filing is approaching. All taxpayers have a lot of doubts and queries related to income tax. Though each query is different and unique but there are some common points which are useful for all taxpayers. Over last 10 years, the return filing process has simplified. Once it was unthinkable to file the return on your own. I used to pay Rs 4,000 for return filing in Mumbai. TRP was 1st major reform and max fees of a TRP was capped. Online tax filing turned the table upside down and completely simplified the entire process. In case, you have income only from salary, ... Read More
7 Facts You Should Know About Land Loan
Land Loan or Plot Loan (used interchangeably) is one of the most confusing subject for borrowers in Loan / Mortgage segment. Confusion is normally between Home Loan, Land Loan and Composite Loan. All three are different products with different features, benefits, Terms and Conditions. Unfortunately all three i.e. Home Loan, Land Loan and Composite Loan are loosely referred as Home Loan only. At macro level, Land Loan is sanctioned only for purchase of residential plot or piece of land. Composite Loan is Land Loan + Construction Loan i.e. to complete construction on plot. In most of the cases, ... Read More