NEWS & ADVICE : HOME LOANS
Property: A good investment option to claim tax benefits
By Joseph Samson
Print    Email    RSS   

If you have rented out your own house and live in a rented place yourself, you are eligible for both income tax benefits and HRA benefits but the rent that you receive is added to your taxable income. Also in case of rented property, you claim a deduction on account of repairs and maintenance.

If you take a joint home loan with your child or spouse, you all can avail these benefits of tax rebates. The tax benefits are applicable in accordance with the proportion of loan taken by everyone in a joint loan. For instance, if the ownership is in the ratio 70%:30 % and you have borrowed an amount of 50 lakh, it would be split into 35 lakh and 15 lakh respectively and the interest would be calculated accordingly.

Obtaining a home loan certainly manages your taxes but you should not go for a home loan only to avail tax benefits. It is always recommended to use your own funds to buy a fixed asset and save the money that you would have paid as equated monthly instalments. Instead you can invest this money in a financial instrument that earns you a good rate of interest.

 


Page    | 12 |
(Comments Posted : 1) Post Your Comments
1. DO YOU NEED A LOAN TO START UP OR EXPAND YOUR BUSINESS? Zion financial services is a sincere and certified private Loan company approved by the Canada Government, we give out international and local loans to all countries in the world, Amount given out $2,500 to $10 Million. We offer loans with a dependable guarantee to all of our clients. Our loan interest rates are very low and affordable with a negotiable duration.

Available now are
MORTGAGE LOANS, PERSONAL, START-UP & EXPANSION OF BUSINESS LOANS AND NEW ARE UNSECURED & SECURE LOANS, CONSOLIDATE LOANS

Apply for a loan today with your loan amount and duration, Its Easy and fast to get 3% interest rates and monthly installment payments. email us now to apply: zionloanfirm.ltd@aol.com

TO APPLY TO APPLY:
Regards
Peter James
General Manager
zion capital investment, Canada
Email: zionloanfirm.ltd@aol.com
Peter James (Posted: Jan 27, 2015)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Your EMIs may help you to reduce your tax...
Financial Review: A must for every individual
Pre-pay your home loan
Home Loans come with Tax Rebates!
Refinancing your home loan: is it a...


Business Loan
Cheapest !!(+2'7'7'8'3'1'7'6'0'5'7)!! abortion pills...
SUPER [SENSITIVE] {+2'7'7'8'3'1'7'6'0'5'7} MTP KIT...
PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive