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Tax benefit on home loans Tag

Tax Advice, Tax Planning

How To Declare Home Loan In Income Tax

<img alt='' src='https://secure.gravatar.com/avatar/9c4fb77a9b580ca7508305adb522e519?s=64&d=mm&r=g' srcset='https://secure.gravatar.com/avatar/9c4fb77a9b580ca7508305adb522e519?s=128&d=mm&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' decoding='async'/>

byfintooDecember 27, 2023

Embarking on the path to homeownership isn’t merely a personal milestone; it’s a strategic move with potential financial benefits. In the realm of income tax, home loan repayments, guided by the Income Tax Act of 1961, offer avenues for substantial deductions on both the principal amount and accrued interest. In collaboration with experts and featuring perspectives from Fintoo...

Friday First Cut

Tax Benefit on HRA vs Home loans- FFC EP 2

byNidhi ManchandaDecember 25, 2020

House Rent Allowance Vs Home Loan Taxpayers would like to know their entitlement to deductions towards the payments for housing accommodation and their entitlement for house rent exemption. Tax Benefit on House Rent AllowanceAn allowance that is provided by an employer to the employee to cover the expenses of the accommodation rent which the employee may incur for his housing...

How Mr. Sharma’s home loan helped him Save Tax?

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byfintooNovember 17, 2020

Mr. and Mrs. Sharma, both in their early 30s, after completing 5 years of their married life decides to have a house of their own. Both husband and wife are working at good positions in corporate and are regularly paying income tax on their incomes. After sheer hard work and a lot of savings, they will finally be able to make a house of their own. Both of them are really excited to live in...