Home Loan interest exemption
India’s largest private lender ICICI Bank has slashed the home loan interest rates for loans up to Rs 5 crore drawn by salaried individuals. The bank has revealed in a recent announcement that, for all floating rate home loans up to Rs 5 crore for salaried individuals, there will be only one single interest rate [...] Continue Reading »
This is an age old belief that the salaried person has a steady income and the businessman a fluctuating one. Sometimes the businessman will be flooded with money, and sometimes he might even find it difficult to make the ends meet. Hence salaried people are preferred for matrimonial alliances too by the parents of the [...] Continue Reading »
The much-awaited direct tax code bill, aimed at simplifying the country’s archaic direct tax laws, was passed by the cabinet on Thursday.Those who have a home loan also have reason to cheer, as the interest exemption would continue for up to 150,000 rupees annually.The first draft of Direct Tax Code (DTC) was silent on exemption [...] Continue Reading »
