Case 1

Page 1

Case 1 : Monthly income Rs 40000 Monthly income of the individual 40000 Loan size as no of times of monthly income 30 total loan size LTV ratio Instalment to income ratio Value of the house Rate of interest

Repayment of loan and interest thereon

1200000

year

Interest

Total Principal instalment

75%

1 1,32,000 34,878

1,66,878

34.77%

2 1,28,163 38,715

1,66,878

1600000

3 1,23,905 42,974

1,66,878

11%

4 1,19,178 47,701

1,66,878

5 1,13,931 52,948

1,66,878

6 1,08,106 58,772

1,66,878

7 1,01,641 65,237

1,66,878

No of years of loan 15 years Assume annual loan repayment for the sake of brevity Year 1

Year 2

Year 3

Total annual income of the individual

480000 480000 480000

8 94,465

72,413

1,66,878

Deduction u/s 24 (b)

132000 128163 123905

9 86,500

80,378

1,66,878

Gross total income

348000 351837 356095

10 77,658

89,220

1,66,878

11 67,844

99,034

1,66,878

12 56,950

1,09,928

1,66,878

13 44,858

1,22,020

1,66,878

14 31,436

1,35,442

1,66,878

15 16,537

1,50,341

1,66,878

Deduction u/s 80C Deductioon u/s 80 EE Taxable income

Total benefit u/s 80EE availed

34878

38715

0

0

42974

313122 313122 313122

0


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