Borrowers always seek to become the beneficiaries, with the intelligent use of beneficial schemes of Government of India, while saving some money against tax. You do not need to worry on any ground if looking forward to delight yourself with the intelligent decision. Some top most sections to save tax are:
Section 80C: This section of Income Tax Act helps people to avail tax benefits on principal amount regarding home loan. Monetary benefit for repayment regarding principal loan amount is allowed after the full construction of the home.
Section 24: Per the terms and conditions of this act tax the maximum of Rs.2 lakhs can be deducted
Section 80EE: This section basically works for the first time clients
Terms and conditions apply *
Normally the rate of interest on business loan is almost fixed throughout the tenure of the loan.
The indicative rate of interest charged by various banks are given in table as below, however final rate may differ depending on the profile of individual and parameters of bank