Govt. pondering over revision of tax exemption on interest paid over home loan
By Joseph Samson
Feb 13, 2012
Print    Email    RSS   

The home loan borrowers may have an extra reason to smile once the budget is announced. The tax exemption limit of the interest paid for the home loans may be increased to Rs. 3 lac from present Rs. 1.5 lac.

The government is still pondering over the matter. The continuously soaring property rates as well as the hike in lending rates gave rise to the idea of revising the exemption limit.

The Director General of CII, Mr. Chandrajit Banerjee said, "We recommended that the existing tax deduction limit on income tax of an individual should be increased from the current level of Rs 2.5 lakh to at least Rs 5 lakh."

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

What if you default on your loan?
Admissible deductions under Section 80C
Save tax with ELSS
Paying back home loans: Which repayment...
Banking Ombudsman: to the aid of the customer

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive