Avail of Tax Benefits on a Loan Against Property

You Must Know How to Avail of Tax Benefits on a Loan Against Property?

Introduction About Loan Against Property Loan Against Property is a secured loan product that can be useful for both salaried individual as well as businesses. So, here are no tax cuts for a loan against property. It is a loan which avail by keeping our commercial/residential property as a collateral. Loan Against Property can be termed as a mortgage loan, it is the loan value ratio which depend on the lender’s evaluate the property.

Benefits of Loan Against Property The loan against property tax benefits is part of the features of the loan against property. There are many reason to apply for loan against property. ● For great value which fulfill our various needs. ● This allows lender to go forward with an easy documentation process. ● Loan Against Property is a secured loan product that can be useful for both salaried individuals as well as businesses. ● Bajaj Housing Finance is eligible criteria for loan against property which are easy to meet and navigate.

Process of Applying for Property Loan ● Filling the application form ● Detail confirmation ● Submit the necessary document ● Verify the documents ● Get Sanction letter ● Await the property evaluation and legal check ● Gets the funds into your account

Tax Benefits on a Loan Against Property ● The loan amount used by the lender is used is used for business reason to enjoy tax benefits exemption from a loan against property. ● The advantage of earning salary to loan against property income tax benefits under section 24(B) of the Income Tax Act. ● Concert the interest on loan against property tax benefits, you have to claim against interest expended plus other fees and dues incurred the process. You can claim this as business expenses under section 37(1) of the Indian Income Tax Art.

Document Required for Loan Against Property In general, banks required the following document for sort of loans: ● Income tax return to rule out any legal noncompliancance ● Address and identity proof, like the Aadhaar card ● PAN card ● Bank statement of the past six months-3 years ● Proof of employment and self-organisation

More Info:BAJAJ HOUSING FINANCE LIMITED Cerebrum IT Park, 5th Floor B2 Building, Holy Cross Rd, Kalyani Nagar, Pune, Maharashtra 411014 Phone number : +91 8698010101 Email id: bhflwecare@bajajfinserv.in

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