POSTED BY December 12, 2012 4:37 am COMMENTS (4)ON
I have a personal finance & Tax related query and looking forward to get your valuable suggestions.
I am 33 yrs old working IT professional. Yearly take home salary 65k/month.
I am planning to invest on a new property ( flat) of 40 lakhs. I already have another home with suficient space for living.
For the new investment(40 lakhs) i am planning to pay 15 laks in cash & planning to take 25 lakhs as Home loan(considering some tax saving on my salary part).
I also have a FD amount 40 lakhs.
Now my question is for this new investment (which is not something i need badly), should i take home loan (will get income tax benifits )or pay if full from my FD(In this case i loose the security net on my family) or take home loan against my FD(in this case i may get cheaper rates & Tax banefits on my salary).
Please suggest, which option is best suitable for me.
Thanks in adavance.