How to use home loans effectively for tax benefits

How to use home loans effectively for tax benefits

While there is one EMI payable to repay home loan, one must take into account the principal and the interest to enjoy tax benefits. Manish Mehta had recently acquired a property worth Rs 55 lakh in the outskirts of Chennai which had been financed by one of the prominent banks to the extent of 85 percent of the value of the property. He is aware that buying a house on loan is a tax efficient proposition but he is not aware of the nuances of how best he can leverage…

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Why PPF Interest Rate Could Fall To Lowest In Nearly 40 Years

Why PPF Interest Rate Could Fall To Lowest In Nearly 40 Years

PPF – Interest on the most popular small saving scheme might hit a 40 year low In what could be a big setback to the common man, interest rate on one of the most popular small saving schemes – public provident fund (PPF) – could fall below 8 per cent, a level never seen since 1979. The interest rates on small saving schemes such as PPF are tied to government debt securities of corresponding maturities. The yields on 10-year benchmark government securities are hovering around three-year low of 7.30 per…

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