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Increasing interest rates on housing loans is not the new news for the home purchasers in India. Observing the segment devoid of potential customers, Govt. is cheering the people to invest in residence and conforming to the strategy plans which are considered by the new direct tax code. Code is expected to be the new alternate for current income tax law and the Govt. has allowed some of the tax breaks to continue which is given to the individuals who purchase housing loans for constructing residences as a social welfare measure. The allowance given for the housing before has activated the activity in allied sectors thus shoving and taking the national graph to the new soar.
Disclosed sources said at the www.propertykhazana.com that, presently an individual can gain a tax benefit up to Rs. 1 Lakhs for every year on the principal amount paid on the housing loan, under Section 80C of the Income Tax Act. There are tax breaks on the interest part of housing loans and also which is deductible. Taxpayer can also argue for the deduction of interest rate up to Rs. 1.5 Lakhs on the housing loan gained for the self occupied land. The Govt. might reform these necessities shortly as redrafting the legislation to make the user friendly and the housing loans will be exempted from the Section 80C, without distracting the tax benefits as the loans for the residence are non-financial tool. Thus, it is needed to be divided from the financial tools. For more information and regular updates logon to www.propertykhazana.com .
Source: NBTVLIVE

Property Listings

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Property Detail of MAULI OMKAR - II............................." Location :- Triveni Nagar, Near Mauli Sapphire Bldg, Mallika Hotel,..
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