Benefits of Applying Online
When Banks Compete, you win.
Apply for a Home Loan at ApnaPaisa and we will match your requirements with the best offers from our network of over 400 service providers. We will get a maximum of five providers to compete for your business. WHEN BANKS COMPETE YOU WIN. You can then decide which home loan is best for you based on:
- Lowest Interest Rate
- Lowest EMI
- No Pre-payment charges
- Lowest Processing Fees
- Maximum Eligible Loan Amount
- Mandatory Documents Required
- Lowest Processing Fees
Or any other factor that is important to you.
Negotiating Tips
1) If you have a good credit record and your income is sufficient to justify the loan you can negotiate on interest rates. You can also try and get Processing fees or legal or valuation fees reduced or completely waived.
2) If you go for a floating rate loan then pre-payment charges are not payable.
3) When interest rates are high and are expected to go down you should go in for a floating rate loan as it makes no sense to lock into high fixed rates or the so called Dual rate loans where rates remain fixed for a couple of years before shifting to regular floating rate loans. Please review this decision at least once every 6 months
4) Take term insurance and critical illness and accidental disability policy for the full loan amount to make sure you or your loved ones don't have to worry about loan repayment should you die or are disabled due to a critical illness or accident. You cannot be forced to buy this policy from the insurance company chosen by the lender - you should choose your own insurer.
India, UAE to issue tax notification
tax notification to UAE residents of Indian originApnaloan.com Research Bureau
10 Aug 2007
Mumbai: India and the United Arab Emirates have agreed to simultaneously issue notifications regarding the taxability of a UAE resident in India. The proposed amendments to be incorporated in the India-UAE Double Taxation Avoidance Agreement (DTAA) is expected to clear the confusion created by contradictory verdicts on the issue by various judicial bodies in India.
The finance ministry sources are tight lipped on the possible amendments. The confusion stems from the fact UAE does not levy a direct tax on its residents. Under the circumstances tax judicial bodies in India have taken contradictory stands, some favouring levying tax on UAE residents in India on the ground that they pay tax at least in one country, while others have viewed that though not taxed at present, the UAE residents are liable to be taxed in the UAE and hence treaty benefits should be accorded to them.
While finance ministry does not want to speak about the contents of the case, sources in the government said levying tax on capital gains was actively considered during negotiations.
Another concept that was discussed during the negotiations between the two tax regimes is the idea of UAE levying a Jakat, ie a nominal tax. Once UAE starts levying a Jakat tax UAE residents become a tax resident of UAE and hence entitled to the benefit of India -UAE DTAA.
The Authority for Advance Ruling (AAR), a quasi-judicial body that gives a verdict on tax liability of possible transactions in India, The Income-tax Appellate Tribunal (ITAT), and the Supreme Court have taken decisions, contradicting each other. At the same time the Income-tax department went on taxing UAE residents, compounding the already existing confusion. It is in this background the government has decided to amend the provisions of INDIA-UAE treaty to clear the air over the issue.
(Courtesy: Economic Times)
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