Advisor to global SME's
September 15th, 2010 — Income Tax
Q. My Brother and I have decided to buy a flat and we will take a joint housing loan. How can we claim tax benefit for this year?
A. You can claim the tax benefit in the ratio in which you contribute EMIs for the property. You should keep the ratio constant throughout the term of the loan.
March 11th, 2010 — Income Tax, Investment in India
| RBI/2009-10/339 UBD (PCB) BPD.Cir.No. 48/13.01.000 / 2009-10 March 4, 2010 Chief Executive Officer Dear Sir, Payment of Interest on Savings Bank Account on Daily Product Basis Please refer to our circular UBD (PCB) BPD.Cir.No. 7/13.01.000/2009-10 dated September 1, 2009 advising banks to put in place requisite infrastructure so that transition to the revised procedure of calculating interest on balances in savings bank accounts on a daily product basis could be implemented smoothly. 2. We advise that payment of interest on savings bank accounts may be made by banks on a daily product basis with effect from April 1, 2010. Yours faithfully, (A.K. Khound) |
