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Income-tax Act

Joint home loans

Here’s How You Claim Tax Benefits On Joint Home Loans

Claiming Tax Benefits On Joint Home Loans Tax laws allow you to enjoy certain benefits with respect to home loans. Benefits are available under section 24 (b) for interest payments and under certain conditions under section 80C for principal payments. A basic condition for claiming tax benefits is that you must be the co-borrower of […]

Prahalad Singh

Home loan gets you tax benefits and a home too!

Rising property prices make home loans inevitable. While buying a home availing a home loan also enjoy tax benefits that come with it. Thanks to firm real estate prices, buying a house is a daunting task for many inIndia. Those who have managed to buy a house have inevitably availed a home loan. These people […]

nikunj.j

Thinking of joint home loan? 6 facts you should know

Home buying is both an overwhelming and a satisfying decision. These days home buying is enabled by home loans in most cases, unlike earlier days where people used to save up money for years before they bought a home. Your home loan eligibility can go up substantially if it is a joint home loan, which […]

nikunj.j

Co-operative housing society and the concept of mutuality

One of the most complex concepts in income tax act over the years has been the understanding of doctrine of mutuality. Different people and organizations decipher the doctrine as per their understanding, which often lead to confusion and possible law suits. Let us try and take a look at the core principles behind the doctrine […]

Leveraging your HRA better to claim tax deductions

We go about trying to claim exemption from taxes in so many ways, but seldom do people realize that investing in ones parents or family is a wise way to manage a part of your tax planning. The best way to go about it is by paying your parent’s ‘house rent’ if you live with […]

nikunj.j

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