Update on February 1, 2019: The exemption for TDS on house rent increased from Rs 1.8 lakhs to Rs 2.40 lakhs. There will also be an exemption on the notional rent of second homes which are … READ FULL STORY
Acquisition of immovable property by a minor A minor can acquire an immovable in various ways. He can acquire it by way of inheritance, either through a will or through the intestate succession law … READ FULL STORY
When you buy a property or book a property, it is necessary for you to have sufficient funds at your disposal. These liquid assets can be in the form of bank balance or investments … READ FULL STORY
Presently, less than 4% of the entire population of India files its income tax return (ITR). Consequently, successive governments have been introducing various measures, to enhance the tax payers’ base. Finance minister Nirmala Sitharaman, … READ FULL STORY
Besides checking an applicant’s eligibility for a home loan, lenders also have certain criteria to ascertain the quantum of home loan that they can grant to the person. Income of the applicant decides home … READ FULL STORY
A number of home owners, who have invested in properties located in the suburbs, prefer to themselves live on rent. Consequently, they put their own house or apartment on rent. Such people let out … READ FULL STORY
Prior to the disbursal of the home loan amount, the borrower is required to sign and execute the loan agreement. The loan agreement regulates the terms and conditions of the loan facility being provided … READ FULL STORY
September 5, 2019: The RBI has made it mandatory for banks to link all new floating-rate loans for housing, auto and MSMEs to external benchmark like repo rate from October 1, a move aimed … READ FULL STORY
The Mumbai Income Tax Tribunal delivered a very important decision on the claim for tax exemption on HRA (House Rent Allowance). Let us analyse the decision in details, with its ramification and relevance for … READ FULL STORY
Recently, the Employees Provident Fund (EPF) rules were relaxed to enable members of the Employees’ Provident Fund Organisation (EPFO) to withdraw money from their EPF accounts for home loan to purchase property or for … READ FULL STORY
On December 30, 2016, Prime Minister of India Narendra Modi launched the BHIM mobile payments application. BHIM stands for Bharat Interface for Money and has been named after BR Ambedkar. BHIM has been developed … READ FULL STORY
The reply to a question raised in the Indian parliament revealed that deposits worth Rs 5,124.98 crores were lying unclaimed for 10 years or more, with scheduled banks. This is a huge amount, considering … READ FULL STORY
Loan-to-value (LTV) is a ratio of the amount of loan that can be given to the total value of the property. The LTV can range from 75 per cent to even 90 per cent … READ FULL STORY
