Tax Rebate on Home Loan
This query is : Resolved
01 April 2009
Hi,
Iam looking for a home loan of INR 500000.
How I can get the best deal to get max tax benefit in this home loan amount.
IS it better to take it for 5 years or good to take it for 10 years.
How much EMI will be best for tax benefit
What is the concept of Tax rebate on principal and interest ?
Kindly guide me
Iam looking for a home loan of INR 500000.
How I can get the best deal to get max tax benefit in this home loan amount.
IS it better to take it for 5 years or good to take it for 10 years.
How much EMI will be best for tax benefit
What is the concept of Tax rebate on principal and interest ?
Kindly guide me
01 April 2009
IF THE HOUSE IS FOR SELF OCCUPATION THAN THE MAX INTEREST DEDUCTION IS RS.1,50,000/- PER ANNUM UNDER INCOME FROM HOUSE PROPERTY. THE PRINCIPAL REPAYMENT OF HOUSING LOAN IS ELIGIBLE U/S 80C IN WHICH THE OVERALL DEDUCTIONS SHALL BE RESTRICTED TO RS.1 LAKH.
SO PLAN UR REPAYMENT SCHEDULE ACCORDINGLY
SO PLAN UR REPAYMENT SCHEDULE ACCORDINGLY
01 April 2009
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