Additionally, it is smart to redirect idle dollars and you will lumpy revenue instance bonuses and you will maturing assets on the prepayment from funds. But right here you ought to think about the cost of the new financing. Whenever determining the fresh pricey finance to settle, think about the income tax masters into specific funds. To Rs.2 lakh interest paid back into the mortgage brokers are going to be claimed since the an effective deduction around Section twenty-four.
There is no limit for the deduction to possess desire paid off for the studies fund below Part 80E. Continue reading “Prepay the most expensive fund basic (get a hold of graphic) so your overall appeal outgo comes down”