Tax implications for homebuyers Archives

First-Time Homebuyer Tips: Your Guide to a Dream Home in India

First-time homebuyer tips is not just a transaction; it’s a journey towards achieving a milestone in life. It’s a step filled with excitement, anticipation, and, let’s face it, a fair bit of complexity. But fear not! This guide is crafted to help you navigate the waters of homebuying with ease, ensuring you make informed decisions that […]

Wealth Yatra 1 year agoMay 1, 2024

Tax Planning

What are the tax implications for first-time homebuyers?

If you’re a first-time homebuyer in India, understanding the tax implications is crucial. Let’s break it down: Now, let’s put this into perspective with an example: Suppose you purchased a property worth Rs 50 lakh in April 2021, taking an 80% loan (i.e., Rs 40 lakh) at an interest rate of 7% for 20 years. Your monthly EMI would be around Rs 31,000. Here’s […]

Wealth Yatra 1 year agoMay 1, 2024