Home Loan Types
There are different types of Home Loans available.
Home Purchase Loans -
Home Purchase loan is used to buy a new or used property.
Home Improvement Loans -
Home Improvement loan is used to improve your home. Purpose of loan is to finance External and Internal Repairs, renovation and any additional construction. They [...]
Entries Tagged as 'Loans'
Home Loan Types
May 31st, 2008 · No Comments
Tags: Loans
Income Tax Benefit on Home Loans
May 31st, 2008 · No Comments
Income Tax Benefit on Home Loans -
Principal and Interest payments on home loans are eligible for tax benefits under the Income Tax Act, 1961.
Resident Indians -
Interest repayment of Rs. 1,50,000 per year can be deducted under Section 24(b). This will reduce your tax liability by about Rs. 50,490 per year.
Principal amount [...]
Tags: Loans