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Showing posts from 2014

When to close your laon

Click here  and download the template that tells you how much you can save closing your loan today. I have primarily created this in helping you sell one of your non performing investments and pay off your loan. if you are closing a ULIP or the likes there are associated costs and this template will help you judge if your savings overcome costs.

Advantage; Homeloan

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Get a home loan save tax. Yes, I'll elaborate on it later but now some quick notes Get a home loan and if you live in it you get up to 1.5Lakh of interest deducted from your taxable income Get a home loan and rent it out; all the interest is delectable form your taxable income. Get your spouse to be a co-applicant on the loan both of you can enjoy the deductions. Up to 1 Lakh of Principle is delectable  from your taxable income (this falls under 80C so your PPF, ULIP, MF etc. is wasted) (Rented out or self-occupied) Use the interactive Tableau dashboard (change the numbers in the boxes) to see how the numbers work for you and what saves most taxes for you. Learn About Tableau You will notice that you will have better tax savings when you rent out your property and stay in a rented house yourselves. when you rent out all your Interest is tax deductible) But if you stay in it yourselves - you only get up to Rs 1.5 lakhs of deductible amount per year. [indirect me