Now that you have fallen, head-over-heels with your stunning INHOUSE dream home, we consider it our responsibility to assist you with your home loan needs, every step of the way - right from educating you about the types of home loans available and the formalities involved in securing the most suitable loan. Having an understanding about the nuances and formalities involved in acquiring a home loan could come in handy. For Resident Indians: Various factors like income, age, educational qualification, current liabilities, total assets, spouse’s income and more are taken into consideration to determine the eligibility of a home loan applicant.
The benefits of availing a home loan comes are quite innumerable. Home loans let you achieve your goal of buying a new home and make you eligible for tax benefits. These tax benefits further contribute towards your EMI flow and savings. Take a look at the following points and calculate your tax benefits based on your loan amount. Benefit on Sale of any capital assets (Section 54F) The Income Tax Act, 1961 gives an individual or HUF who does not own a residential villas in Calicut a concession to purchase a residential house or flats in Ernakulam as and when they sell a Long Term Capital asset (for e.g. shares, bonds, debentures, motor car etc). When you sell a capital asset normally you are required to pay tax on the gain on the value of asset after the benefit of indexation. If however, you do not own a residential house you can reinvest the net consideration received from the sale of capital assets in a residential villas in Calicut property and if the amount invested is equal to or more than the net consideration no income tax is payable on such Long Term Capital gain
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