POSTED BY January 29, 2014 4:54 pm COMMENTS (5)ON
Please consider below scenario.
I have taken the home loan of 13 lac. Rs after 2 years. Now i have closed the home loan with help of money from my family. In that year i know i will get tax exemption on principal and interest it will around 1 lac and 1.5 lac. but home loan closing amount is 13 lac.
my exemption in tax is 2.5 lac for current year but the home loan is of 13 lac.
So closing of home loan is good idea.