Finance industry experts believe the brunt of the negative impact of the move would be faced by self-employed and small businesses, while the salaried class might not face much inconvenience.
Extant tax benefit has been extended with the tax free relief available if a person withdraws an amount before the end or closure of their account if this is not more than 25 percent of the amount that has been contributed by the individual to the account.
There are various factors that determine whether you will get a home loan or not. Consequently, it is advisable to know your home loan eligibility in advance, so that you can plan the purchase R
A few right steps can help you appear creditworthy in the eyes of bank.
Income tax laws allow tax payers to claim various benefits, with respect to the house occupied by the assessee â€“ whether it is owned by you or taken on rent. Conditions for claiming R
However, there has been no major demand coming from retail customers for its heavy commercial vehicles business, says Vellayan Subbiah, Managing Director, Cholamandalam Investment & Finance.
As self employed individuals do not get a fixed monthly income, they may face some challenges while accessing credit. However, if they remain compliant by filing their income tax returns, by repaying their existing loans on time and by keeping their account up to date, they stand a high chance of getting a loan.
Sometimes the loan application does not even reach the credit officer. They are declined at the application stage. Here are some reasons.
Being your own employers, self employed individuals have to be careful about both business finance as well as personal finance. Mingling both can be harmful in the long term for your financial well being.
Self employed individuals find it difficult to take a loan from banks. While banks have their own reasons to deny credit to them, some smart tips can help them access credit easily.