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10. Legal

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Loan against Property and its advantages

One of the most important assets of an individual is the property in India which can serve an array of purposes in times of trouble. Most of us take a loan against property for Commercial, Residential and Industrial property. This is a process, wherein a secured loan is provided against the mortgage of the property with […]

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Pre-approved Loans: Explanation and Facts

The pre-approval of loans is a marketing strategy which is adopted by the banks and other financial institutions in order to enhance their credit disbursal through cross selling products. Based on the existing information of the customer, loan products are sold to them. The process of pre-approval can be initiated by the customer or the […]

Tax exemption provisions on home loan

Property buying in India has become one of the latest investments both nationally and internationally. The real estate in India has attracted innumerable investors globally and hence buying a home is one of the top most priorities for the contemporary professionals. People buy properties for residing as well as investment purpose. However, the tax aspect […]

Income tax benefit of a housing loan: Section 24

What is a home loan? A home loan or mortgage is nothing but the funding for a new home by any bank or a financial institution. Banks disburse loan to the home owner/loan seeker who meet the specified criteria. Basically a home loan is divided into two parts – the principle payment and the payment of interest. […]

Guidelines to claim tax benefits for home loan

Most people are confused and follow a misconception that people who have taken  home loans cannot claim tax benefits. This is a false belief which most of them follow. The tax benefits for a home loan falls under the Section 80C and the Section 24(b). The Income Tax Act which was declared in 1961 provides […]

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