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Hi, I am a first time home buyer, I have some tax related issues.
Q: How to save tax by doing investment on property?

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Latest Answer: Hi Ravi, In my point of view, the ones who have a home loan in which they are a co-applicant and pay the EMI ,they can claim the entire deduction on interest as well as principal repayments. If the home is self-occupied, the total year interest deduction would be restricted to Rs 2 lakh. I am also assuming that you would continue to pay the entire EMI until the loan is fully repaid.
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What is refinancing ? what are the benefits of it?

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Latest Answer: Hi Mr Akash, Refinancing your home loan essentially means that you pay out your existing home loan before its tenure and replace it with a new one. It is an excellent tool to manage your debt load, reduce your financial stress while saving your money. It also ensures that you are not bound to one financial institution for the entire tenure of the loan.
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Tax rebate house loan
Q: Is it true that the I-T Act says if a house to be used by the buyer is not handed over the by the builder "within three years from the end of the financial year in which capital was borrowed", the exemption on the interest amount will only be Rs 30,000 and not Rs 2 lakh, raised from Rs 1.5 lakh in the budget.

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Latest Answer: Hi Amit, One thing that should always keep in mind that in case of self occupied property, this deduction is allowed only for one such self - occupied property. The interest towards home loan taken for purchase, construction, repairs, renewal or reconstruction of house property is eligible for deduction under section 24(b).
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Tax benefits on home loan
Q: I'm a first time home buyer, what type of tax benefits can I avail?

tax benefits on home loan
mcd online property tax
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Latest Answer: Need to know any tax benefit for the first time home buyers?
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