All Questions
53
questions
0
votes
0
answers
64
views
Proceeds of house sale for study loan
Sale of House proceeds is 50lacs. profit from sale of property 15 lacs.
I have student loan 30 lacs.
Should I pay student loan first or buy property. My all transactions are in in INDIA.
2
votes
0
answers
68
views
Does a loan for purchasing land provide a tax benefit?
I want to take a loan for land. In the future we want to build house on it, but now we can only afford the land. Would this be a personal loan or home loan?
If I take this land loan can I benefit in ...
- 121
2
votes
0
answers
532
views
Can we hand over blank cheques to a bank when applying for any kinda loans?
I applied for a 4 lakh car loan with HDFC Bank, but before they will approve it, they require four blank cheques with my signature. Is it safe to give the bank those cheques?
0
votes
1
answer
104
views
Taking home loan and car loan separately with some down payment or taking one loan without any down payment. which one is good?
Am from India and planning to buy a house and a car. I have ~10L in my hand. House costs around 36L (Including Registration and other charges) and car cost around 11L (on-road price).
So paying down ...
- 101
1
vote
1
answer
175
views
Avalilability of very short term loan options for non-salary individual in India
I am a student and I have a non-salary account. I mean, I am not getting salary and getting money every month as scholarship. The amount I am getting as scholarship is not less and is at-least ...
- 165
-2
votes
1
answer
211
views
Is buying a mortgaged property profitable?
I am planning to buy a property and wondering if this property is worth buying.
A. Price of property including everything: Rs 45 lacks
B. Down payment: Rs 5 lacks
C. Loan/Mortgage (C = A-B): Rs 40 ...
- 97
1
vote
1
answer
138
views
Loan from NRI Brother
If I borrow money (10 Cr approx without Interest) from my brother who is working in abroad is it taxable to IT of India for my brother ? does that amount count as my income, and should I have to pay ...
0
votes
1
answer
98
views
Indian Income Tax System Rebate on Education Loan and House Rent
I am a recent graduate and will be starting my job in a couple of days.
My offer Letter says
CTC Offered:
● X LPA (can't disclose the actual amount) -> fixed
and it is written that:
Applicable ...
- 101
0
votes
2
answers
97
views
Interest Benefit on Home Loan for pre-construction period, if foreclosed before 3 years after posession
I am living in India.
I want to know if I can claim tax benefit for the interest paid on my home loan under Section 24 for the pre construction period if I foreclose the loan before 3 years of ...
- 1
2
votes
1
answer
79
views
NRI loan repayment in India
One NRI took loan from me (also NRI) in Saudi Arabia, but about 2 months ago left for good to India.
Now he has no option but to pay me in India, this money that he will transfer to my account may ...
- 21
2
votes
2
answers
292
views
Are prepaid credit cards a form of secured loan?
I was reading about different factors that determines credit score. One of them is having a "good credit mix" (IE having a healthy mix of secured (such as home loan, auto loan) and unsecured loans (...
- 121
0
votes
1
answer
85
views
Tax benefit on home loan of under construction as well as ready possession property
I am from Pune, India and working in Ratnagiri.
I have purchased a under constructed flat as a Co-Owner in FY 18-19 in Pune. Possession will be after four years i.e. 2022. First Owner is my wife. We ...
- 1
3
votes
1
answer
129
views
How to give collateral loan for car in India?
My neighbour wants a loan on his car. What are the legal procedure to give such a loan?
- 133
4
votes
2
answers
1k
views
why don't banks invest money in mutual funds or shares instead of giving personal loans
Banks offer personal loan at interest rate of 11 %, but why don't they invest those money in mutual funds or shares and earn more ?
- 145
2
votes
2
answers
99
views
Does the interest charged decrease if I pay my long term bank loan's major part earlier?
I have taken a long term bank loan.....say 10K. Suppose the interest charged is 10 percent. Now, I have a lot of surplus money with me due to unexpected cash inflows. I want to reduce the interest ...
- 21
1
vote
1
answer
367
views
How to buy a flat with a loan from NRI friend
I am intending to buy a flat worth 60 laks rupees in India, I am an Indian Citizen. I have 35 laks rupees in my bank (sale proceeds of a flat) and I want to fund the remaining 25 laks as;
15 laks ...
- 11
4
votes
2
answers
27k
views
Is a loan from a friend taxable in India?
If a friend of mine transfers money (say 5 to 10 lakhs Rs) to my savings account, does that amount count as my income and do I have to pay tax on it?
Will the Tax authorities question me ?
Should I ...
- 163
0
votes
1
answer
73
views
Will one’s education loan application be rejected if one doesn't have a payslip providing collateral?
Is it possible to reject education loan by SBI/IOB for abroad if don’t have payslip where parents are doing small business but provided necessary collateral which is worth twice the value approved by ...
0
votes
2
answers
348
views
Is there any loan that leverage tax for H1b holders?
I am here in US through H1B. I have a decent amount of loan back in India. Also I am paying a lot in Tax here.
Is there any way I can get any loan here in US and pay off my loan in India and reduce ...
- 101
1
vote
1
answer
61
views
Transfering funds from India to the US
I am a US Citizen doing business in India as well as US.
Can I transfer funds from India to USA which I have borrowed in India.
Is there a limit on one time transfer of funds from India to the US?
- 11
1
vote
1
answer
93
views
Insurance with home loan
I had taken a home loan from axis bank and it is disbursed on 22-3-2017. I got demand draft and I given it to builder.
During the loan process bank employee asked me to purchase a property ...
1
vote
1
answer
493
views
Money transfer from India to Dubai
I have to go back to India due to job loss and have to repay my bank loan in Dubai.
How can I transfer money from my savings account to my bank in Dubai?
- 11
2
votes
1
answer
226
views
Sending money to siblings in India by an NRI
I owe $40,000 to my brother in India. Does he have to pay taxes in India if I send the money in one year period (10 monthly installments) to his savings account in India as gift or loan repayment?
- 21
0
votes
1
answer
109
views
Tax Implication on loan by NRI to another NRI above INR 30 lakhs
I am an NRI in KSA . I paid a loan of 30 Lakhs (interest-free) to my UK friend during FY 2013-14. I paid it 15 lakhs from my NRO A/C and 15 Lakhs from my NRE A/c.
My fund source in both A/cs is my ...
- 11
3
votes
1
answer
371
views
Money Transfer by Indian Citizen to US Citizen to Settle a Debt
I am a US Citizen. I sent money to help out a relative (an Indian Citizen) in India. I used Western Union to transfer the funds from the US -- I paid in USD and he received the remittance in Rupees. ...
- 31
1
vote
1
answer
130
views
How CIBIL Credit score will impact for 2 unsecured loans?
I have 2 loans. One I am paying on time correctly. Another one I am paying partially.
How it will affect my CIBIL Credit score?.
- 199
0
votes
1
answer
207
views
Tax benefit on Home Loan
I own one flat (Staying in same flat) for which I am claiming tax benefit on home loan.
Recently, I have purchased one more flat, can you please tell me how can I claim the tax benefit for the home ...
- 9
0
votes
2
answers
2k
views
Remit money to India from balance transfer of credit card
I am a tax resident of USA and citizen of India. Lately, I have been receiving 0% interest balance transfer offers from credit card companies. The offer is - they will charge me 0% interest for 12 ...
- 21
1
vote
3
answers
504
views
Reason to give for personal loan in USA to buy land in India?
I am buying a land in India for that i need personal loan for about 15k.
I am not sure what should be the good reason to give to credit unions to get the loan approved.
Please suggest and thanks in ...
- 19
1
vote
1
answer
1k
views
Time of CIBIL score update?
I have Education loan EMI of Rs 4500 per month. I didn't pay EMI for last 5 Months. So my cibil score has reduced to 600. I plan pay last 5 months EMI in a single payment and EMI regularly from this ...
- 199
1
vote
3
answers
358
views
Buy a new home or stay on rental flat?
I got married a year back. My husband and I both are working professionals. we both are earning well and can save 50000 per month combined after deducting our rental of 25000 per month and all other ...
- 19
2
votes
1
answer
165
views
How to get loaned money back to US
I had loaned about 150 K money to a relative to purchase a house in India over a period of 8 years. The house never materialized due to some conflicts. My relative is returning the money back with ...
- 123
1
vote
2
answers
224
views
Refinancing Loans from USA to India
I have a friend living in USA who is a US citizen. He can take a loan of X$ from a US bank as a personal loan or a business loan. Can he finance my company in India with this loan he availed from USA ?...
- 39
0
votes
2
answers
2k
views
Getting loans from Foreign banks
The interest on bank loans is 10% in India. Instead, is it possible to get loans from USA banks to India at 3.3-4% for a project ?
Is this what is called hedging or hedge funds ?
- 39
3
votes
1
answer
2k
views
Loan from friends living abroad
My friends living abroad [non Indians] are ready to provide me financial loan for the purpose of education of my children. If this money comes via inward remittance, what should be the appropriate ...
- 31
2
votes
1
answer
469
views
Wire transfer from India to US
I would like send/lend money from US account to My brother-in-law's Indian account(international wire transfer) for 30 lakhs. This will be no interest loan to him. My brother-in-law needs this money ...
- 21
3
votes
2
answers
146
views
How can I judge loan availability?
I want to apply for home loan ( I am from India ). But I did not know If I am qualified for loan or not.
Previous history is that I already have a home loan for a property through my family. That ...
- 157
0
votes
1
answer
2k
views
How to send full loan amount to India from Saudi Arabia?
I work in Saudi Arabia,
I took a loan here, nearly 10 lakhs Indian Rupees (1,000,000 Indian Rupees).
My questions are:
How to send the full loan amount from Saudi Arabia (money exchange), because I ...
1
vote
1
answer
668
views
Employer Letter for NRI Home Loan
Please advise: for an NRI working in US applying for home loan in India, Bank is asking for employer letter, latest salary revision letter from employer and employer ID card etc.. but if NRI is an ...
- 81
2
votes
1
answer
2k
views
Can I take a loan against propety in my children's name?
I am from Chennai, India. The house which we are living in Chennai used to be in my father's name. My father has four children and I am the last one, daughter and I am widowed and living with my ...
- 21
2
votes
2
answers
20k
views
How can I bring loaned money back to US from India
I am a US permanent resident and I loaned some money to my father in law in India early last year. I transferred US dollars from my US bank account to my NRI (Non resident Indian) account (Indian ...
- 123
3
votes
3
answers
34k
views
Need a loan to buy property in India. What are my options?
I have seen a property in India, and I am planning to buy it. The total cost is $105k, out of which I have $30k of my own. The remaining $75k needs to be financed somehow. I can get a loan in India, ...
- 31
0
votes
1
answer
180
views
What should be the maximum affordable loan earning X per month?
I will be shortly purchasing a car with help of a loan. Suppose my earnings per month is X, what should be the EMI [Equated Monthly Installment] limit ? Till now my monthly expenses are X/4 and the ...
- 109
2
votes
2
answers
172
views
How to calculate whether it's better to pay my education loan, or my home investment loan?
I have an education loan @ 11.5 % for 1,000,000. I can pay it in 3 years.
I am planning to make an investment by buying a home @ 10.5% for 2,200,000. Term = 20 yrs.
I am thinking if I sell the house ...
- 135
2
votes
1
answer
676
views
Tax rebate on Home loan on mother's property
I have got a home loan from SBI on my mother's property. she is co-signee on the the loan. Can I use EMI paid for my tax saving.
- 29
4
votes
1
answer
489
views
Who is responsible when property and the loan are in different names?
We have a LAP (Loan against property) loan with ICICI Bank. The loan is on my name (primary), with my brother and father as co-signers.
I am not sure how the ICICI bank sanctioned the loan on my name ...
- 49
3
votes
1
answer
2k
views
Getting a loan to buy a second house from family in India
I have one elder brother. My father has one house worth 30 Lacks.
During property sharing, this house went to my brother.
He is planning to sell that property, but I do not want to sell it to some ...
- 31
0
votes
1
answer
2k
views
How to Split a loan, and how much should be my investment
I am from India. My idea of the question is to understand what is the loan amount I am entitled to, what should be my plan for applying a loan and is there any ways to reduce interest rate after a ...
- 101
6
votes
3
answers
63k
views
Can I get a housing loan for my father's property?
I want to apply for a home loan, but the property is registered in my father's name. Is it possible? Can anybody help clarify my understanding of home loans?
- 215
2
votes
2
answers
1k
views
Go for Fixed or Floating interest in Mortgage
Which type of loan is best, a Fixed interest rate or a floating interest rate?
In India most banks offer mortgages that start with a 12% floating rate or a fixed rate mortgage with a 13.5% interest ...
- 215