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Bajaj Housing Finance reduces home loan interest rates

Bajaj Housing Finance reduces home loan interest rates

Finance
Bajaj Housing Finance announced Monday that it was reduced home loan interest rates. A press release issued by the non-banking housing finance company (NBFC) stated that it has cut interest rates on home loan up to Rs 30 lakh to 8.6 percent from 8.8 percent. The revised rates would be effective from now and would apply to all eligible customers. The press release also stated that those borrowers planning for a home loan balance transfer will get this reduced rate. Bajaj Housing Finance offers home loans for up to Rs 3.5 crore for borrowers purchasing their first house, constructing an own house or renovating the current house. The company also offers its customers a top-up loan of up to Rs 50 lakh, without any extra documentation, to finance key requirements like repairs and renovation. Le...
ADAG firm Reliance Home Finance misses NCD payment, extends maturity

ADAG firm Reliance Home Finance misses NCD payment, extends maturity

Finance
Mumbai: Reliance Home Finance, an Anil Ambani company, has refinanced non-convertible debentures (NCDs) worth Rs 400 crore that had matured on Friday, but said it has paid the interest due on the same. The instrument has now been extended by four months till October 31, 2019. The company said it has been done to address timing mismatch between receipt of proceeds from an ongoing asset monetisation to meet repayment requirements. “In view of the continuing severe liquidity crisis in the sector, as now formally recognised even by RBI, the maturity of certain NCDs of Rs 400 crore has been extended till October 31, 2019, with formal written consent from the concerned debenture trustees and NCD holders,” an ADAG spokesperson said in an email. He further said in view of the extension by mutual c
Finance Ministry preparing full Budget presentation in July

Finance Ministry preparing full Budget presentation in July

Finance
The Union Finance Ministry has started preparations for the presentation of the full Budget 2019-20 by a new government in July, even as the country is in the midst of the ongoing seven-phased general elections. The Ministry has sent out communications to various industry bodies and other stakeholders inviting their suggestions on direct and indirect taxes related to various sectors. Industry leaders said they expect changes in custom rates and direct taxes as the Goods and Services Tax (GST) has removed most indirect taxes from the purview of the Budget. "We expect a lot of changes on direct tax front. If the current government comes back they would bring changes as they have certain things in their mind from previous years. "In case a new government comes, they would unlikely go for any ...
Finance Bill 2019 becomes Act: President okays interim Budget 2019

Finance Bill 2019 becomes Act: President okays interim Budget 2019

Finance
Tax deducted at source (TDS) threshold for interest income to be increased from Rs 10,000 to Rs 40,000 per financial year.ET Online|Updated: Feb 22, 2019, 02.35 PM IST TDS threshold for rental income to be increased from Rs 180,000 to Rs 240,000 per financial year.The interim budget 2019 finance bill has been assented to by the President on February 21 thereby making it an Act. This means that the proposals in the Finance bill 2019 including the tax changes now become law. The interim budget had proposed to increase standard deduction for salaried employees to Rs 50,000 for FY19-20 from Rs 40,000 in FY18-19 and provide full rebate of tax payable to all those earning upto Rs 5 lakh taxable income starting FY19-20. Other important new laws, proposals include: Proposed- Long-term capital gai...