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Housing Loan the Best Tax Planning

Housing loan is a significant tax saver because both the interest and principal components offer better tax benefits and capital appreciation.

Tax Benefit:

Taking a home loan also gives numerous benefits:

    • Interest Paid- As per Section 24(b) of the Income Tax Act, 1961 a deduction up to Rs. 1.5 lakh towards the total interest payable on the home loan towards purchase / construction of house property can be claimed while computing the income from house property.
    • Principal Repayment- As per the newly introduced Sections 80C read with section 80CCE of the Income Tax Act, 1961 the principal repayment up to Rs. 1 lakh on your home loan will be allowed as a deduction from the gross total income subject to fulfilment of prescribed conditions.
    • Information on Home Loans:

      One of the resolutions for a buyer this year is to possess an apartment in Delhi NCR with all the world class facilities at par with international standards. But sometimes financially the individual may not have the budget or the previous budget doesn’t match the refreshed prices of the property. To meet this ever price changing scenario in the real estate industry, home loans have become popular over the period of time.

      When you want to buy a residential home, it’s a big financial decision for an individual personally. There are many factors you have to consider before taking a housing loan and consider the impact it will have on your personal account:

    • Impact of loan on personal finance:

    It’s very important to understand the bearing caused when you take a loan and the subsequent EMI’s one has to pay from the monthly earnings. Hence the liability of taking a loan and then repaying it back with interest is a huge responsibility for an individual.


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