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Discussion on financial matters, loans, tax, and insurance related to property/apartments/flats/plots in Faridabad, Greater Faridabad, NCR.

Pathetic Banking regulations giving free hand to public loot

Dear Friends,

I have been, once again, provoked to post my grievances to make you all aware the situations we are going through.

I am a middle class (third class) citizen of this country who dreamed to prosper and not able to digest the situation created by mighty powers/rulers.

The environment around is not only pro Capitalism but also to ensure middle class is always burdened with debt and incapacitated to live a peaceful life. ...
Read more : Pathetic Banking regulations giving free hand to public loot | Views : 1908 | Replies : 4


You may not be able to claim home loan interest rebate even after possession You may not be able to claim home loan interest rebate even after possession

16 Aug 2014
Hindustan Times (Delhi)
Sonu Iyer The author is partner and national leader – Human Capital Services, EY

Timely possession holds the key

To avail of tax benefits on a housing loan for a self-occupied property, one must meet some conditions laid down by the IT Act

Accommodation is one of the most basic necessities of the common man. Given the increased rentals, what can be more lucrative than owning a house ...


Subvention scheme is a double-edged sword : Choose projects carefully

If possession is delayed, the home buyer could end up paying both rent and home loan instalments

Sunil Rao works as a manager for a multi-national company in Gurgaon. A few months back he bought a house for himself under the 'Subvention Scheme', which was advertised as 80:20. The scheme seemed too good to let go, so he immediately booked a flat in the project.

But a few weeks back, Rao got a letter from ...


Investment Guide: Which is better - LIC, NSC, PPF or FD ?

Dear Members,

As the Financial year is coming to an end and Salaried persons need to submit Investment proofs to avail Tax benefit, need advise from our Financial analyst/expert members on Small Savings Schemes.

Which investment option is recommended among the following to get maximum benefit?

  • LIC Policy
  • National Savings Certificate (NSC)
  • Public Provident Fund (PPF)
  • Bank Fixed Deposit

Suggestions are welcome :)
Read more : Investment Guide: Which is better - LIC, NSC, PPF or FD ? | Views : 11912 | Replies : 5


Accountants specializing in Property buying and RBI Compliances

Hi Everyone,
I would really appreciate if anyone can give me names of accountants specializing in property buying and RBI compliances.
Thanks.
Read more : Accountants specializing in Property buying and RBI Compliances | Views : 895 | Replies : 0


How your home loan EMIs are calculated

Institutions providing home loans intermittently come up with new forms of loans that are devised to meet the needs of house buyers from every section of the society. However, before choosing a particular loan, it is very important to have a comprehension about the most important constituent of the loan - the EMIs.

An EMI, or equated monthly instalment, is a certain amount of money that is payable by you to the bank (in case ...
Read more : How your home loan EMIs are calculated | Views : 1400 | Replies : 0


Income tax claim loss for delayed possession of apartment

Since the possession of the flats have not been handed over in 3 years in RPS savana, those who booked flat in 2006 and taken home loan at that time will loose Income tax claim, on prepaid interest and principal also. Can anyone highlight in terms on INCOME TAX ACT??
thanks
ZAFAR
Read more : Income tax claim loss for delayed possession of apartment | Views : 1459 | Replies : 2


Home Loan Subvention Scheme

I have been told that ERA divine court is offerring a subvention scheme where the EMI will commence on possession. Only DHFL is providing the loan on this. However , often , the possession clause is ambiguous and once the stated builder period for possession ( say 30 months ) is over, the lender starts collecting EMI from the borrower. Has anyone applied for this ? If anyone knows the details of this scheme , ...
Read more : Home Loan Subvention Scheme | Views : 1796 | Replies : 2


Service Tax on Under Construction Property

Hi GWFA members,

I am curious to know if all of you are paying Service Tax on all of your payments made after June 2010.
Has your builder charged the service tax or not.

We , SRS Pearl Independent Floor members are paying Service Tax on all our payments currently wef June 2010.

Please respond.
Read more : Service Tax on Under Construction Property | Views : 7206 | Replies : 19


Banks increase home loan rates again

Yesterday, I received letter from my bank (IDBI Bank) that home loan rates have again been increased by 0.5% . This is a third increase in less than a year. To add salt to wound, my bank says that this increase is retrospective and is applicable from 5th May, 2011.

Home buyers are being exploited from all sides. Is it a crime for middle class citizens in India to dream of buying home ?
Read more : Banks increase home loan rates again | Views : 2837 | Replies : 1


 

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