When we book an under-construction property, the only outcome that we think of is getting possession of the property in a few years as promised. You either plan to set up your home there or bet that the price will go up quickly. Have you planned for any other eventualities? Likely not. In other words,… Continue Reading
Income Tax Slabs Remain Unchanged Taxable Income Age < 60 years Taxable Income Senior Citizen (60 <= Age < 80 years) Taxable Income Very Senior Citizen (Age >= 80 years) Rs 2.5 lacs – Rs 5 lacs 5% Rs 3 lacs – Rs 5 lacs 5% Rs 5 lacs – 10 lacs 20% Rs 5… Continue Reading
Most of us don’t have the luxury to purchase a house without a home loan. So, if you plan to purchase a house, you have to take a home loan at some point during your working years. A question that may cross your mind, “What is the ideal age to take a home loan?” Should… Continue Reading
If you fancy making asset purchases on credit, you would want to be aware how much loan amount you can get. I am not talking about minor purchases where you can simply swipe your credit card. Once the credit card is approved, you can use your card, subject to credit limit, wherever you want. The bank… Continue Reading
A home loan is a long term commitment. Therefore, if you are planning to take one to purchase a house, here are a few things you must keep in mind when you take a home loan. Focus on the Property First, and Then the Home Loan I am quite sure you can save a lot… Continue Reading
In our parents’ generation, many had to wait almost till retirement to own a house. Now, with rising salaries and easy availability of home loans, you do not need to wait till your late 40s and 50s to purchase a house. Many want to take it to the other extreme and want to purchase a… Continue Reading
This year’s Union Budget brought a few positives in form of lower tax slab rate for tax slab Rs 2.5 lacs-Rs 5 lacs and reduction in holding period for long term capital gains for real estate from 3 years to 2 years. But there was a major shock for real estate investors. Set off of… Continue Reading
Almost everyone plans to purchase a house before retirement. Given the inflated real estate prices, buying a house outright is not an option for many of us. Thus, many of us have to resort to home loans to finance purchase of house. Though a home loan repayment schedule can be structured in any way, I will… Continue Reading
This year’s Union Budget is a mixed bag for salaried class and the real estate investors. Here is a look at key budget announcements. Reduction in tax rate from 10% to 5% for income tax slab of Rs 2.5 lacs to Rs 5 lacs (Positive) Introduction of Surcharge of 10% for taxable income between Rs… Continue Reading
You are aware that you get tax benefit of up to Rs 1.5 lacs for principal repayment under Section 80C of the Income Tax Act. You are also aware about tax benefit of up to Rs 2 lacs for interest payment for a housing loan for a self-occupied house. In case the house is not… Continue Reading