Tax Finance Info: Housing Loan

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House Property: Income from House Property Calculation

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House Property: Income from House Property Calculation</h3>
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<span lang="EN-US">Income
from house property is calculated in the manner provided in The Income Tax Act.
Calculation of Income from House property is done under the lights of section
22, 23, 24, 25, 25A, 25AA, 25B, 26 and 27 of the Income Tax Act. Income from
house property is charged to tax as per section 22 of the Income Tax Act, which
states as follows:<o:p></o:p></span></div>
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<b><i><span lang="EN-US">22.</span></i></b><i><span lang="EN-US"> The annual value of
property consisting of any buildings or lands appurtenant thereto of which the
assessee is the owner, other than such portions of such property as he may
occupy for the purposes of any business or profession carried on by him the
profits of which are chargeable to income-tax, shall be chargeable to
income-tax under the head "Income from house property".<o:p></o:p></span></i></div>
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<b><span lang="EN-US"><span style="font-size: large;">Explanation</span><o:p></o:p></span></b></div>
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<b><span lang="EN-US"><br /></span></b></div>
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<span lang="EN-US">There
are three conditions; fulfillment of which will consider the income as Income
from House Property:<o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US">1.
Assessee is the owner<o:p></o:p></span></div>
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<span lang="EN-US">2.
The property should have a building or any land attached thereto.<o:p></o:p></span></div>
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<span lang="EN-US">3.
The property must not be used by the assessee for the purpose of his business
and profession.<o:p></o:p></span></div>
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<b><span lang="EN-US"><span style="font-size: large;">Points to be
considered while calculation Income from House Property:</span><o:p></o:p></span></b></div>
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<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">v </span></span><b><span lang="EN-US"><span style="font-size: large;">Annual Value of Property</span>: </span></b><span lang="EN-US">The annual value of house
property will be as follows:<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Where the Property in
not let out: </span></b><span lang="EN-US">The
value at which the same house property can be rented / let out <o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><b><span lang="EN-US">Where the Property is
let out: </span></b><span lang="EN-US">There
can be many consequences such as;<b><o:p></o:p></b></span></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><b><span lang="EN-US">Property is Fully let out: <o:p></o:p></span></b></div>
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<span lang="EN-US">Higher of, Actual Rent received
or the value at which the same house property can be rented / let out<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><b><span lang="EN-US">Property is Partly let out: <o:p></o:p></span></b></div>
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<span lang="EN-US">Higher of, Actual Rent received
or the value at which the same part of house property can be rented / let out<o:p></o:p></span></div>
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<br /></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><b><span lang="EN-US">Property or any part of property is Vacant for whole year or
part of year:<o:p></o:p></span></b></div>
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<span lang="EN-US">Lower of, Actual Rent received
or the value at which the same part of house property can be rented / let out<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Where the Property includes some <b>unusable part</b> such as when it is used for the business &
Profession of the assessee or is used for his own residence than the value will
be taken as<b> Nil.</b></span><b><span lang="EN-US">                                                                                                                                                      </span></b></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><span lang="EN-US">The above will be
subject to condition that such part could not have been let out by the assessee
during any time of the previous year.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Where the Property includes more than two houses the assessee
has to choose one for his own residential purpose, it will not attract the
sections of Income Tax Act to charge tax on it. <o:p></o:p></span></div>
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<span lang="EN-US"><br /></span></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">  
</span></span><span lang="EN-US">But the other which is not chosen as the residential house
by the assessee will attract the taxes on deemed income of let out if not
actually let out and on rent income if it is let out.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: Wingdings;"><span style="font-size: large;">v</span></span><span lang="EN-US" style="font-family: Wingdings; font-size: 11.0pt; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> </span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">    When any Taxes are levied by a local
authority in respect of any property it shall always be deemed to include
service taxes and all such taxes are allowed as deduction when they are
actually paid. Thus the year in which such taxes are taxable is not taken into
consideration.<o:p></o:p></span></div>
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<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings;">v </span></span><b><span lang="EN-US" style="font-family: Calibri, sans-serif;"><span style="font-size: large;">Deductions allowable on computation of Income from House Property:</span><span style="font-size: 11pt;"><o:p></o:p></span></span></b></div>
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<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></b></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">30% of the Annual Value as calculated above<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Interest payable when capital is borrowed for construction,
acquisition, repairs, renewal or reconstruction of such house property subject
to following conditions:<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><span lang="EN-US">Where the property includes
some unusable part such as when it is used for the business & Profession of
the assessee or is used for his own residence and the annual value will of
which will be taken as<b> </b>Nil<b> – Maximum Rs. 30,000</b><o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><span lang="EN-US">Where the property is
acquired or constructed using borrowing on or after 01.04.1999 and the
construction and / or acquisition is completed within three years from the end
of financial year in which capital is borrowed, i.e. capital borrowed on
01.02.2000, the end of financial year is 31.03.2001. so the construction and /
or acquisition must be complete on or before 31.03.2004 – <b>Maximun Rs. 1,50,000.</b><o:p></o:p></span></div>
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<b><span lang="EN-US"><span style="font-size: large;">Explanation</span><o:p></o:p></span></b></div>
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<b><span lang="EN-US"><br /></span></b></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Where the property has been acquired or constructed with borrowed
capital, the interest, if any, payable on such capital borrowed for the period
prior to the previous year in which the property has been acquired or
constructed shall be deducted in the following manner:<o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">   </span></span><span lang="EN-US">equal instalments for
five years commencing from the same previous year.<o:p></o:p></span></div>
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<br /></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">Deduction can only be claimed if the assessee can furnishes
a certificate, from the person to whom any interest is payable on the capital
borrowed, specifying the amount of interest payable by the assessee for the
purpose of such acquisition or construction of the property, or, conversion of
the whole or any part of the capital borrowed which remains to be repaid as a
new loan.<o:p></o:p></span></div>
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<br /></div>
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<span lang="EN-US" style="font-family: "Times New Roman","serif"; mso-fareast-font-family: "Times New Roman";">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">         
</span></span><span lang="EN-US">New loan will mean the whole or any part of a loan taken by
the assessee after the capital borrowed, for the purpose of repayment of capital
borrowed prior to it.<o:p></o:p></span></div>
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<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;">v<span style="font-family: 'Times New Roman';">  </span></span><b><span lang="EN-US">Arrears of rent received</span></b></span><span lang="EN-US"><o:p></o:p></span></div>
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<b><span lang="EN-US"><br /></span></b></div>
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<span lang="EN-US">When the assessee has
let out the house property being an owner and if he receives the rent which was
in arrears in any previous years, the chargeable amount under “Income from
House Property” will be calculated as follows:<o:p></o:p></span></div>
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<span lang="EN-US">        <o:p></o:p></span></div>
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<span lang="EN-US">Rent
received which was in arrears                                          
XXX<o:p></o:p></span></div>
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<span lang="EN-US">Less:              30% of the Amount so received                                          <u>(XXX)<o:p></o:p></u></span></div>
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<span lang="EN-US">                                                Income
from House Property             
XXX<o:p></o:p></span></div>
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<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings;">v<span style="font-family: 'Times New Roman';">  </span></span></span><b><span lang="EN-US" style="font-family: Calibri, sans-serif;"><span style="font-size: large;">Property
owned by co-owners</span><span style="font-size: 11pt;"><o:p></o:p></span></span></b></div>
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<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-bidi-font-weight: bold; mso-hansi-theme-font: minor-latin;">When there are more than one owner of one house property, the income will
not be considered as income of association of person but on individual share of
the asessee.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings;">v<span style="font-family: 'Times New Roman';">  </span></span><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Certain definitions to understand the concept</span></b></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Owner of the House Property:</span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> an individual who transfers
otherwise than for adequate consideration any house property to his or her
spouse, not being a transfer in connection with an agreement to live apart, or
to a minor child not being a married daughter, shall be deemed to be the owner
of the house property so transferred.<o:p></o:p></span></div>
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<br /></div>
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<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Deemed Owner as per section 27:<o:p></o:p></span></b></div>
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<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">27</span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> ii) the holder of an impartible estate shall be deemed to be the
individual owner of all the properties comprised in the estate <o:p></o:p></span></div>
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<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">27 </span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">(iii) a member of a co-operative society, company or other
association of persons to whom a building or part thereof is allotted or leased
under a house building scheme of the society, company or association, as the
case may be, shall be deemed to be the owner of that building or part thereof ;<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">27</span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> (iiia) a person who is allowed to take or retain possession of
any building or part thereof in part performance of a contract of the nature
referred to in section 53A of the Transfer of Property Act, 1882 (4 of 1882),
shall be deemed to be the owner of that building or part thereof ;<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">27 </span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">(iiib) a person who acquires any rights (excluding any rights by
way of a lease from month to month or for a period not exceeding one year) in
or with respect to any building or part thereof, by virtue of any such
transaction as is referred to in clause (f) of section 269UA, shall be deemed
to be the owner of that building or part thereof;<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: Calibri, sans-serif;"><span style="font-size: large;">Example</span><span style="font-size: 11pt;"><o:p></o:p></span></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Details of Mr X. for the Financial Year 2012-13. He owns two
houses.<o:p></o:p></span></b></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br /></span></b></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
 <tbody>
<tr>
  <td style="border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Particulars<o:p></o:p></span></b></div>
</td>
  <td style="border-left: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">House I<o:p></o:p></span></b></div>
</td>
  <td style="border-left: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">House II<o:p></o:p></span></b></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Municipal
  Value of the house<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">480000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">720000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Standard
  Rent<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">360000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">600000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Date of
  completion of  construction<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">--<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">10.05.2011<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Interest
  for the Year on borrowed capital<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">--<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">190000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Municipal
  Taxes paid<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">5000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">6200<o:p></o:p></span></div>
</td>
 </tr>
</tbody></table>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<span lang="EN-US">Compute
Income from House Property.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<b><span lang="EN-US"><span style="font-size: large;">Solution:</span><o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify;">
<br /></div>
<div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b><span lang="EN-US">Income from House
Property<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b><span lang="EN-US"><br /></span></b></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
 <tbody>
<tr>
  <td style="border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Particulars<o:p></o:p></span></b></div>
</td>
  <td style="border-left: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="center" class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: center;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">House I<o:p></o:p></span></b></div>
</td>
  <td style="border-left: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="center" class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: center;">
<b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">House II<o:p></o:p></span></b></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Gross
  Annual Value of the house<o:p></o:p></span></div>
<div class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">(Higher of
  Municipal Value and fair value subject to Standard Rent)<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: right;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">360000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="tx" style="margin-bottom: .0001pt; margin: 0cm; text-align: right;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">600000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span lang="EN-US">Less:
  Municipal Taxes<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">5000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">6200<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b><span lang="EN-US">Net Annual Value<o:p></o:p></span></b></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<b><span lang="EN-US">355000<o:p></o:p></span></b></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<b><span lang="EN-US">593800<o:p></o:p></span></b></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span lang="EN-US">Less:
  30% Deduction<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">106500<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">178140<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><span lang="EN-US">        </span></b><span lang="EN-US">  Interest on Capital borrowed (Maximum rs.
  150000)<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">--<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<span lang="EN-US">150000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 333.9pt;" valign="top" width="445">
  <div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b><span lang="EN-US">Income from House
  Property<o:p></o:p></span></b></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 103.5pt;" valign="top" width="138">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<b><span lang="EN-US">248500<o:p></o:p></span></b></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.9pt;" valign="top" width="145">
  <div align="right" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: right;">
<b><span lang="EN-US">415660</span></b></div>
</td></tr>
</tbody></table>
</div>

House Property: Income from House Property Calculation

House Property: Income from House Property Calculation Income from house property is calculated in the manner provided in The Income...

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Home Loan: Increase the Home Loan Eligibility Criteria

<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<h3 style="text-align: center;">
Home Loan: Increase the Home Loan Eligibility Criteria</h3>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" height="170" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7iJfrNffWYFb0MFs9e-Nv70gPEpBtgKDrbFCC7rnQp7hPJKBea5BM2UaVQfr0a6meh0SEPhVC-9nHhj1KaVurhhUldpJpEpXa4x-5tdql5Isp3CPFaWUbplwGSyUEniRv6NvYOPzTiV39/s1600/Screenshot_10.jpg" width="320" /></div>
<br />
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Today, many banks and financial
institutions provide with a bundle of facilities for providing finance to the
general public as well as to corporates and others. Some of those finances that
can be taken as examples are as follows:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Personal Loan<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Housing Loan<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Car Loan<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Business Loan<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Mortgage Loan and many more.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">The norms of providing such
financial facilities differ from bank to bank and institution to institution.
In this article we will consider the norms, i.e. eligibility criteria of a
person, as an individual as well as a group, for availing housing loan. Housing
Loans are provided for the purpose following purposes:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For purchasing plot and constructing a residential house thereon<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For constructing a house on the already owned/leased land<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For purchase of flat that will be constructed by the builders or
others<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For purchasing an already built house<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For making extension or addition in the existing house<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">For repairs or renovation of the existing house.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-family: Calibri, sans-serif;"><b><span style="font-size: large;">In general parlance, banks and
other institutions go for the following eligibility criteria:</span></b><span style="font-size: 11pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l3 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">An Individual must be of an age less than 55 years. In case where
relaxation is provided the maximum age may differ. In case where the age
exceeds the maximum limit, a co – borrower shall join the loan.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l3 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">In case of salaried person, he/she must be in confirmed service of
at least 3 years.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l3 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">In case of people who are near retirement age, should have minimum
5 years of service left with them.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l3 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">-<span style="font-family: 'Times New Roman'; font-size: 7pt;">       
</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Self Employed people also must be in employment for at least 3
years and that too in a gainful employment.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">This is the normal criteria
adopted while lending. So in order to increase your own eligibility, you can
consider the following points:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span lang="EN-US" style="font-family: Calibri, sans-serif;"><span style="font-size: large;">The Profile of the borrower:</span></span></b><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> The
personal details of the borrower such as higher education, well settled
profession, less dependent, higher value of assets and lower liabilities
contributing to high net worth in the case of self employed person, handsome
salary and long employment term with one employer, etc. may add to the positive
points thereby increasing your eligibility for availing housing finance.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Area of house for which loan is
to be borrowed</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> It is a technical point to be kept in mind. Try to purchase or
construction house property at a area which is well settled and can fetch more
market value in future. This will help to increase chances of availing housing
finance as the banks may consider it as a standard asset.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Age of the borrower</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> Try to
avail housing finance at a younger age. As the maximum age for availing housing
finance is around 55 – 60 years, prefer to borrow at the age from 20 to 40 so
that you can extend the term of the loan for 20 to 25 years.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Creditability</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> Now a
days, bank can get all your credit details from the previous financial
facility, if any availed by you. They get it from Credit Information Companies
(CIBIL). These companies store your details on the basis of your PAN. If you
have made any default in repaying the previous financial facilities, your
eligibility for availing housing or any finance come down to negative and you
may have to face very high security criteria. So by repaying the financial
facilities availed by you on time may add to your creditability, thereby
increasing your chances of availing housing finance.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Other financial Facilities
enjoyed by you</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> If you are enjoying other financial facilities such as car loan,
credit card, etc. you are suppose to repay such credits also. This will
decrease your ability to pay the new housing loan you may be planning to avail.
As per the rule, when 12 installments of a credit facility are outstanding, may
be considered as a loan outstanding. So, if you have enough liquidity, you can
repay such outstanding loan in full or in part, which may help to reduce the
number of installments payable by you. Thus, try to repay your outstanding debt
so that the capability of repaying new finance increases, thereby increasing
your eligibility criteria for availing a housing loan.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Increase in
income</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> Finance is
granted based on your income. The Higher your income, the higher the amount of
loan you can avail. So is you are a salaried person, try to increase your take
home pay, that will result in an increase in your repayment capacity. Banks
calculate the loan amount on the basis of that the amount of loan that may be
sanctioned is less than or equal to 48 times of your take home salary. And if
you are having any other debt and have to repay the same, the same is also
deducted from your repayment capacity.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Repayment
Capacity</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> You must
try to increase your repayment capacity, which will increase your eligibility
for availing housing loan. Your repayment capacity is calculated on the basis
that, your monthly installment can never be more than half of your take home
pay. And it may even be reduced when you are already repaying the existing
loans, if any. So you must concentrate on your repayment capacity for
increasing your eligibility for availing the housing finance.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Co-Borrowers</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> If the
repayment capacity of an individual does not meet the repayment capacity, he
can opt for joining a co-borrower to apply for the housing finance. Generally
co- borrowers are close relatives. In case when you are of very old age in such
cases also you can opt for a Co borrower.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Lower EMI
during initial term</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> Opt for paying Lower Installments in the initial period of the
loan. This will increase your repayment capacity. It is the most common way to
increase your eligibility for availing housing loan. Such loan is given on the
basis that the income of an individual increases as the time passes. This king
of adjustment is known as Step – Up loan in official language.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><b><span lang="EN-US" style="font-family: Calibri, sans-serif;">Tenure of
Loan</span></b><span lang="EN-US" style="font-family: Calibri, sans-serif;">:</span></span><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> This is
the most suggested tip for increasing the eligibility for availing housing
finance. The logic behind the tip is very simple that, if the tenure of the
loan is more, then there will be more number of installments payable by you and
the amount will be much lower in every installment. This will meet your
repayment capacity if you have lower income generated as per records. For
example, if your repayment capacity is to be considered on the basis of half of
your salary and it amounts to Rs. 10000, if you take a housing loan of
Rs.10,00,000 @ 9.5% interest rate for 10 years than your monthly installment
may come to Rs. 12940, which is higher than your repayment capacity. But if you
increase the tenure of the loan to 18 years, your monthly installment will be
Rs.9680. This will meet your repayment capacity and will make you eligible for
availing the housing finance.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-family: Calibri, sans-serif;"><b><span style="font-size: large;">Other ways to increase your
eligibility for availing housing loan can be:</span></b><span style="font-size: 11pt;"><o:p></o:p></span></span></div>
<ul style="margin-top: 0cm;" type="disc">
<li class="MsoNormal" style="mso-list: l0 level1 lfo4; text-align: justify;"><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">You can
     club income of your spouse or children that will increase your repayment
     capacity.<o:p></o:p></span></li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo4; text-align: justify;"><span lang="EN-US" style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Salaried
     employees have an option of adding up your performance – linked pay and
     increase your eligibility for availing housing loan.<o:p></o:p></span></li>
</ul>
<div class="MsoNormal" style="margin-left: 18.0pt; text-align: justify;">
<span style="font-family: Calibri, sans-serif; font-size: 11pt;">The above
adjustments should be made if and only if they suit your profile otherwise it
may sometimes create liquidity and other crisis.</span></div>
</div>

Home Loan: Increase the Home Loan Eligibility Criteria

Home Loan: Increase the Home Loan Eligibility Criteria Today, many banks and financial institutions provide with a bundle of facilit...

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Income Tax: Tax Benefits of Housing Loan in India

<div dir="ltr" style="text-align: left;" trbidi="on">
<h3 style="text-align: center;">
<br />Income Tax: Tax Benefits of Housing Loan in India</h3>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" height="170" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh82xkI794K6WZHKaf6Ks8iq3mLH64m6DqxzfHtYAMdnPRdHgCBFVxkMhSxagufztbgAPuD4PQTDPup964F0L3P47l17ic0FNHfcbCWgdbpmPtYGhwV0aznZs2Lb4QgKHExrAtHWHsmRBmD/s1600/Screenshot_9.jpg" width="320" /></div>
<br />
<div class="MsoNormal" style="text-align: justify; text-indent: 36.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Any tax benefit on housing
loan is covered under section 24, 80C and 80EE of the income tax act, 1961.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify; text-indent: 36.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            The
important matter to be kept in mind is the tax benefit of housing loan when a
person takes a housing loan. Thus, there are different sections available for
taking tax benefit on housing loan and this benefit are claimed as a tax
deduction at the time of filing of the income tax return. The repayment of the
amount of housing loan is to be divided into 2 components:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">      -<span style="font-size: 7pt; line-height: normal;">         
</span></span><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Repayment of principal amount<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l2 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-fareast-font-family: Calibri; mso-hansi-font-family: Calibri;">      -<span style="font-size: 7pt; line-height: normal;">         
</span></span><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Repayment of the interest on home loan<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l5 level1 lfo2; text-align: justify; text-indent: -18.0pt;">
<b><span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; line-height: 115%;">  Ø<span style="font-family: 'Times New Roman'; line-height: normal;">  </span></span></span></b><i><u><span lang="EN-US" style="line-height: 115%;"><b><span style="font-size: large;">Section - 80C :- income tax benefit on home loan (principal
amount)</span></b><span style="font-size: small;"><o:p></o:p></span></span></u></i></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            When
an INDIVIDUAL or HUF made the repayment of the principal amount of home loan,
the deduction is allowed under section 80C up to a maximum of Rs. 100000/-
only. However, the available tax benefit under this section is allowed only if
the construction is complete and the completion certificate has been awarded.
No deduction is allowed for repayment of the principal amount for those years
in which the property is under construction.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            The
deduction of Rs. 100000/- is the total deduction available under section 80C
i.e., PPF account, Equity oriented MFs, Tax saving fixed deposits etc. are
included for deduction under section 80C. If the assesses has not taken a loan,
but paid stamp duty and registration fee then, it can be claimed as deduction
under section 80C. <o:p></o:p></span><br />
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"></span><br />
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</td>
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  <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-size: 16pt;">Income
  Tax E-filing Return<o:p></o:p></span></div>
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  <td nowrap="" style="background: white; border-left: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 38.0pt;" valign="bottom" width="51">
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</td>
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  <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-size: 16pt;">Process
  of Filing Rectification Return<o:p></o:p></span></div>
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<tr style="height: 21.0pt; mso-yfti-irow: 4;">
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<u><span style="color: red; font-size: 16.0pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><a href="http://www.taxfinanceinfo.com/2013/11/common-errors-in-filing-rectification.html"><span style="color: red;">View</span></a><o:p></o:p></span></u></div>
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  <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-size: 16pt;">Common
  Errors in Filing Rectification Return<o:p></o:p></span></div>
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<u><span style="color: red; font-size: 16.0pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><a href="http://www.taxfinanceinfo.com/2013/11/common-mistakes-in-e-filling-of-income.html"><span style="color: red;">View</span></a><o:p></o:p></span></u></div>
</td>
  <td nowrap="" style="background: white; border-right: solid windowtext 1.0pt; border: none; height: 21.0pt; mso-border-right-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 376.0pt;" valign="bottom" width="501">
  <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-size: 16pt;">Common
  Mistakes in E-filling of Income Tax Return (ITR)<o:p></o:p></span></div>
</td>
 </tr>
<tr style="height: 21.0pt; mso-yfti-irow: 8; mso-yfti-lastrow: yes;">
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<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"> </span><span style="font-size: 12pt; line-height: 115%;"> </span></div>
<div class="MsoListParagraph" style="mso-list: l4 level1 lfo3; text-align: justify; text-indent: -18.0pt;">
<span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; line-height: 115%;"> <b> Ø<span style="font-family: 'Times New Roman'; line-height: normal;">  </span></b></span></span><i><u><span lang="EN-US" style="line-height: 115%;"><span style="font-size: large;"><b>Section - 24 :- income tax benefit of interest on home loan</b></span><span style="font-size: small;"><o:p></o:p></span></span></u></i></div>
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<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
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<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            Under
section 24, the interest paid on housing loan is to be reduced from the income
from house property when the loan has been taken for the purpose of purchase or
construction or repair of the housing property.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
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<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            The
maximum deduction limit of Rs. 150000/- is available for a self-occupied
property under this section. However, the property for which the loan has been
taken is not the self occupied property of the assesses then there is no
maximum limit is applied and he/she can claim the deduction for the whole
amount. The benefit of deduction of interest on housing loan of Rs. 100000/- is
to be reduced to Rs. 30000/- only if the construction of such property is not
completed within 3 years from the end of the financial year in which the loan
was taken.<o:p></o:p></span></div>
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<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            While
taking the benefit of deduction under section 24, the following important
points must be taken into consideration:<o:p></o:p></span></div>
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<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo5; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 7pt; line-height: normal;">                        </span>I.<span style="font-size: 7pt; line-height: normal;">           
</span></span><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Interest paid on outstanding amount is not allowed as a tax
deduction.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 9px;">                        </span>II.<span style="font-size: 7pt; line-height: normal;">           
</span></span><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Any deduction cannot be claimed for a commission paid for
arranging the loan.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 9px;">                 </span>III.<span style="font-size: 7pt; line-height: normal;">           
</span></span><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">If the person acquired or constructed the property with
borrowed funds, then he/she can claim the deduction of interest on a home loan.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo5; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 9px;">                     </span><span style="font-size: 7pt; line-height: normal;"> </span>IV.<span style="font-size: 7pt; line-height: normal;">           
</span></span><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">This tax deduction is to be available to the assesses only if
the construction is completed within 3 years from the end of the financial year
in which the capital is borrowed.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"> </span><span style="font-size: 12pt; line-height: 115%;"> </span></div>
<div class="MsoListParagraph" style="mso-list: l4 level1 lfo3; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Wingdings; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"> <b> </b></span><b><span style="font-size: large;"><span lang="EN-US" style="font-family: Wingdings; line-height: 115%;">Ø<span style="font-family: 'Times New Roman'; line-height: normal;">  </span></span></span><i><u><span lang="EN-US" style="line-height: 115%;"><span style="font-size: large;">Section - 80EE :- income tax benefit of interest on home loan
(first time buyer)</span><span style="font-size: small;"><o:p></o:p></span></span></u></i></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">            While
the budget 2013 has been announced by P. Chidambaram, a new section in the
income tax act is included known as section 80EE. This section provides
additional tax deduction of Rs. 100000/- to the first time home buyers with the
following conditions:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo6; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 7pt; line-height: normal;">                        </span>I.<span style="font-size: 7pt; line-height: normal;">           
</span></span><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">The loan is to be sanctioned between 1<sup>st</sup> April,
2013 and 31<sup>st</sup> March, 2013.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo6; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 9px;">               </span><span style="font-size: 9px;"> </span><span style="font-size: 7pt; line-height: normal;">      </span>II.<span style="font-size: 7pt; line-height: normal;">           
</span></span><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">The amount of the loan does not exceed Rs. 2500000/-.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l1 level1 lfo6; mso-text-indent-alt: -18.0pt; text-align: justify; text-indent: -36.0pt;">
<span lang="EN-US" style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-size: 9px;">               </span><span style="font-size: 9px;"> </span><span style="font-size: 7pt; line-height: normal;">    </span>III.<span style="font-size: 7pt; line-height: normal;">           
</span></span><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">On the date of sanction of loan, the assesses does not own
any house property.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l3 level1 lfo4; text-align: justify; text-indent: -18.0pt;">
<span lang="EN-US" style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><b><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;">Available deductions in
all of the 3 sections –<o:p></o:p></span></b></div>
<div class="MsoListParagraph" style="mso-list: l3 level1 lfo4; text-align: justify; text-indent: -18.0pt;">
<b><span lang="EN-US" style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
 <tbody>
<tr>
  <td rowspan="2" style="border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">Particulars<o:p></o:p></span></div>
</td>
  <td colspan="2" style="border-left: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-themecolor: text1; mso-border-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 319.2pt;" valign="top" width="426"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">Quantum
  of deduction<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">Self-Occupied
  property<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">None
  Self-occupied property<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">Section
  24<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">150000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">No
  limit<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">Section
  80C<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">100000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">100000<o:p></o:p></span></div>
</td>
 </tr>
<tr>
  <td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .5pt; mso-border-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">Section
  80EE<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">100000<o:p></o:p></span></div>
</td>
  <td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .5pt; mso-border-bottom-themecolor: text1; mso-border-left-alt: solid black .5pt; mso-border-left-themecolor: text1; mso-border-right-themecolor: text1; mso-border-themecolor: text1; mso-border-top-alt: solid black .5pt; mso-border-top-themecolor: text1; padding: 0cm 5.4pt 0cm 5.4pt; width: 159.6pt;" valign="top" width="213"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span lang="EN-US" style="font-size: 12.0pt;">100000<o:p></o:p></span></div>
</td>
 </tr>
</tbody></table>
<br />
<div class="MsoNormal">
<br /></div>
</div>

Income Tax: Tax Benefits of Housing Loan in India

Income Tax: Tax Benefits of Housing Loan in India Any tax benefit on housing loan is covered under section 24, 80C and 80EE of the in...

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