All Questions
53
questions
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votes
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answers
61
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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.
1
vote
0
answers
66
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 ...
- 111
2
votes
0
answers
521
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
137
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
96
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
78
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
291
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
128
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