Finance

Real life experience and money saving tips about home loan, personal finance, credit cards and things that bank would not tell you.

LTA – Leave Travel Allowance, Income Tax Rules explained

 20 Apr, 18 

  • LTA is leave travel allowance meant for making tax exempt holiday once in period of two years with or without family
  • Air travel, train ticket cost (economy or first class AC), hotel and taxi bills within India (no abroad) are allowed
  • Full LTA that is part of CTC can be claimed with receipts

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Can you get new car loan on on H1B or L1 visa?

H1B Visa Buy New or Used Car In USA?

 19 Apr, 18 

  • Can you buy a new Car while on H1B or L1 work visas in USA
  • Should you buy an old car or a new car
  • Can you get car loan for new car
  • Yes, you can

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HRA Exemption – Maximize Tax Benefit In India

 19 Apr, 18 

  • Calculate HRA exemption with formula
  • Find Monthly rent to get the highest tax rebate in Metro or non metro city
  • Rent receipts required if paying more than 3000 per month
  • Landlord PAN required if rent is more than 1 Lakh per annum
  • Paying rent to family member is allowed

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Margin money home loan india - How the payment is divided between you and bank?

Margin Money in Home Loan with Indian Bank

 19 Apr, 18 

  • Margin money in home loan India construction linked plan is paid with bank payments to builder
  • Use personal loan, top loan to arrange margin money with SBI, HDFC home loan
  • Bank safe-guards itself by asking consumer to pool money from their pocket and maintain bank's share in total loan disbursement

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Old Check with printed address is valid to issue even if you change your address in USA

Order New Checks on Address Change in USA?

 17 Apr, 18 

  • You can use the checks with old printed address when you move to new one
  • Change your address in Bank records but the old checks will still work

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How to file US Tax on NRE Interest 1099-INT

 11 Apr, 18 

  • File NRE account interest in USA tax return
  • Exchange rate for USD conversion by IRS
  • 1099-INT is not given by Indian bank
  • NRE NRO FD interest is taxable

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