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CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration. CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration, CBIC chief Vivek Johri said.

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home-loan

Home Loans in Ghaziabad

Home loans in India are a popular financing option for people looking to purchase a house or property. The process of obtaining a home loan in India involves various steps and requirements that are important to understand before applying for one.

Types of Home Loans in India

Home loan Eligibility criteria

Documentation Required For home loan in india

Home loan and interest rates

The loan amount and interest rates for home loans in India depend on various factors such as the applicant’s income, credit score, property value, and loan tenure. Typically, the loan amount can range from Rs. 5 lakhs to Rs. 10 crores, and the interest rates can vary from 8.00% to 10%.

Loan Repayment and Tenure

The repayment period for home loans in India can range from 5 to 30 years, depending on the loan amount and the applicant’s age. The loan repayment can be done through Equated Monthly Installments (EMIs) that consist of principal and interest components. Prepayment and foreclosure of home loans are allowed by most banks and housing finance companies with some conditions.

Tax Benefits

Home loan borrowers in India can avail of tax benefits under various sections of the Income Tax Act. The principal amount repaid during the financial year can be claimed as a deduction under Section 80C, while the interest paid can be claimed as a deduction under Section 24. Additionally, if the borrower is a first-time homebuyer, they can claim an additional deduction under Section 80EEA.

Conclusion

Home loans in India are an excellent way to finance your dream home. It is essential to understand the various types of home loans, eligibility criteria, documentation requirements, loan amount, interest rates, repayment tenure, and tax benefits before applying for one. By doing so, you can ensure that you get the best deal on your home loan and make a wise financial decision.

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