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EMI Calculation


You must be working rs software, Hardware and Information technology area Must waft in Government office Or else you must in private Ltd co. where PF & Salary add facilities are There The business people can apply for loan with the last 3 years IT papers

Your minimum amount of salary must be Rs. 8500/- and above it.

Salery Amount Loan Amount
Rs.8500/- 3.3lakh
Rs.10,000/- 5 lakh
Rs.16,000/- 7.5 lakh
Rs.20,000/- 10 lakh
Rs.30,000/- 15.0 lakh
Salery Amount Loan Amount
Rs.40,000/- 20 lakh
Rs.50,000/- 25 lakh
Rs.75,000/- 37.5 lakh
Rs.1,00,000/- 50 lakh
Rs.30,000/- 15.0 lakh

The paper needed the for the loan from your side, must be properly provided and after It within 5-7 days it will be completed.

  • Photos
  • Payslip with Attest By Empolyee for 3 months
  • Employer Letter
  • Form-16 / Appointment Letter
  • BankStatement for last 6 months
  • A Cheque Leaf for Processing Fee
  • Resume (Previous Employment Detais)
  • Identity Proof
  • Age Proof
  • Address Proof
  • Photos
  • Employment Contract / Appointment Letter
  • Overseas Bank statement for 6 months
  • NRE / NRO Bank Statement for 6 months
  • Resume
  • Visa Stamped on Passport
  • Latest Credit Burezu report
  • Continuous Discharge Certificate(CDC) for applicants employed in the Merchant navy
  • Power Of Attomey
  • A Cheque Leaf for Processing Fees

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Non Resident Indian(NRI)

An Indian Citizen who stays abroad for empolyment/carrying on business or vocation outside India or stays abroad under circumstances indicating a uncertain duration of stay abroad is a non-resident (Persons posted in U.N. organizations and officials deputed abroad by Central/State Governments and public. Sector undertakings on temporary assignments are also treated as non-residents). Non-resident foreign cityzens of Indian Origin are treated on par non-resident Indian citizens (NRls) for the purpose of certain facilities

For the purposes of availing of the facilities oi opening and maintenance of bank accounts and investments in share/Securities in India. A foreign citizen (Other than a citizens of Pakistan or Bangladesh) is deemed to be of Indian origin, If he at any time, held an Indian passport, or he or either of his grand parents was citizen of India by virtue of the Constitution of India or Citizenship Act, 1955 (57 of 1955)

Note : A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a person of Indian origin is also treated as a person of Indian origin for the above purposes provided the bank accounts are opened or investments in shares/securities in India are made by such persons only jointly with their NRI Spouses. For investments in immovable properties (A foretgn citizen (other than a citizen of Pakistan, Bangladesh,Indian origin if ). He held an Indian passport at any frme, or he or his father or paternal grand-faher was a citizen of India by virtue of the (Constituton of india or Citizenship Act, 1955(57 of 1955)

Reserve Bank has granted general permission to foreigin citizens of Indian origin, Wherther resident in India or abroad, to purchase immovable property iin india for their bona fide residental purpose. They are therefor not required to obtain permission of Reserve Bank

They are required to filea declaration in form IPI 7 with the Central Office of Reserve Bank at Mumbai within a period of 90days form the date of purchase of immovable property or final payment of purchase consideration along with a certified copy of the document evidencing the transaction and bank certificate regarding the Consideration paid.

Yes. Reserve Bank has granted general permission for sale of such property. However, Where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to india or paid out of balances in NRE/FCNR accounts.

Applications for repatriation of sale proceeds are considered provided the sale takes place after three years form the date of final purchase deed or from the date of payment of final instalment of consideration amount whichever is later.

Tax Benifits

The income tax authorities look upon with favour at those servicing a housing loan form specified financial institutions. It is up to you to be wise enough to take advantage of the home loan facilities provided by them.

When put in figures, this is quite an amount

  • Assume taxable income of Rs 4lakh, placing the assessee in the highest tax bracket.
  • Assume interest payment during the first financial year is Rs.!.60 lakh
  • Taxable income stands reduced to Rs.2.5 lakh (Rs 4 lakh - Rs-1.5 lakh being the maximum limit).
  • Total tax amounts to Rs.49,980 (tax of Rs 49,000 + surcharge of Rs 980).
  • Tax saved is Rs 45,000 (tax @30% on Rs 1.5 lakh plus 2% sucharge as the investor is in the highest tax bracket). That brings us to Section 88 of the income Tax Act.