With the Bajaj Housing Finance Home Loans, you can combine a homeowner’s dream with a smart financial planning while you just enjoy the attractive debt features you created for you.
Here is what you need to know about tax planning for homeboys for the first time.
Why is it important for tax planning for buyers for the first time
For the first time, as a homemaker, you are responsible .This is entering the world-but also the opportunity. Understanding the tax benefits connected to a home loan makes your investment more beneficial. How is it:
- Taxes on the main repayment: Under section C C of the Income Tax Act, you can claim to cut your home loan main amount by up to Rs 1.5 lakh a year. This is especially beneficial if you are planning a long -term savings in favor of your dream home.
Pro Tip: Make sure all the documents required for your home loan are kept safe, as your deduction will need to be claimed. - Additional cuts for affordable housing homes: If your home loan is under the affordable housing range, you can qualify for an additional deduction of Rs 1.5 lakh under section 80 EEA. This is applicable if the property value is below Rs 45 lakh and the loan is approved during a specific timeline.
- Joint Home Loan – Reduce Benefits: Planning to borrow a joint home with your spouse? Both lenders can individually claim tax benefits on the main and interest payments to effectively double the tax savings.
- Stamp duty and registration fee: Do not ignore the leading cost. You can claim the deduction of stamp duty and registration fees under section 80C, subject to a limit of Rs 1.5 lakh.
- Interest payment deduction: Your home loan interest factor eligible for a deduction of up to Rs. 2 lakh under section 24 (b). For the first time homeboisters, this can significantly reduce the financial burden of monthly EMI. You can also use a home loan eligibility calculator to estimate that you can borrow and plan accordingly.
Buying your dream home is a thrilling journey, however, it comes with a proper share of financial decisions. Understanding tax benefits can help you significantly save you, but to navigate the complications of home loan applications. It is there that Bajaj Housing Finance Home Loans come-Processing provides you with intact, reliable and consumer-focused solution to make it of trouble-free and benefit.
Who can consider choosing Bajaj Housing Home Loans for your home purchase journey:
- Loans up to Rs 15 crore: The milestone owned by your dream house is Rs. 15 crore*.
- Attractive interest rates: Enjoy a low low rate rate starting from only 8.50%* PA, EMIS cheaper Rs. 759/lakh*.
- Long repayment period: Easily return your debt with an extended repayment period of 32 years.
- Easy Application Process: Skip multiple branch visits with trouble-free procedures and doorstep documents with pick-up services.
- Balance transfer with top-up option: You can transfer your home loan to Bajaj Housing Finance and take advantage of a top-up loan of Rs 1 crore or more.
With the Bajaj Housing Finance Home Loans, you are just a step away from making the reality of your dream home. Take advantage of tax benefits, enjoy competitive rates and secure your future.
Visit the Bajaj FinnSar website and start their homemade journey today.
Disclaimer – The above content is non -editorical, and through this, the discharge of any and all guarantees, expressed or indicated, and does not guarantee, does not support any content or assurance of any material.
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