The tax deduction is available not only for the purchase or construction of a house, but also for loans taken for the purpose of repairs and renovation of the house. Such loans are typically called “home improvement loans”. The interest paid on the home improvement loan is tax deductible up to Rs 30,000 per annum. [...]
Home loan
Articles and Resources about Home loan
Tax Benefits On Home Improvement Loans
Wednesday, March 23rd, 2011Tax Incentives on Home Loan
Thursday, February 24th, 2011Tax incentives on home loan encourage people to invest in a house or property. Acquiring a home loan for buy or build a house makes you eligible for tax rebates under Income Tax Act. The interest towards home loan taken for construction, repairs, renewal or reconstruction of existing house property is also eligible for deduction. [...]
Equity Release Loan for the Senior Citizens
Thursday, December 2nd, 2010Equity Release is a way of unlocking the value of your property, without having to move home. Equity release is a means of retaining use of your house or other object which has capital value, while also obtaining a lump sum or a steady stream of income, using the value of the house. To be [...]
Understand Your Home Loan
Wednesday, December 1st, 2010Banks generally quote an ‘annualized’ interest rate, but remember that interest rates can be deceptive unless you figure out how they are defined. When you take a loan from a bank or a housing finance company, bank will offer you only 80 to 90 per cent of the value of the property i.e., you have [...]
How To Avoid Rejection of Home Loan application
Tuesday, November 16th, 2010Earlier getting a home a loan was easier as the lending companies or banks were competing with each other to attract maximum borrowers through attractive schemes and offering teaser home loan. But now Reserve Bank of India (RBI) announced a series of monetary measures that tightened the norms for home loans. The RBI also sought [...]
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