Home Loan Tax Benefits
Home loan comes with multiple benefits & let you achieve your goal of buying a new home and make you eligible for tax benefits. These tax benefits can contribute towards your EMI flow and savings.
The home loan borrower enjoys Tax Benefits on both Interest paid & the Principal re-paid. Under Section 24(d) of Income Tax, the deduction of interest payable on the home loan is up to a maximum of Rs. 1,50,000.
Under Section 80(c) of Income Tax, Principal amount for the repayment of loan along with other savings & investments is eligible for tax deduction up to a maximum limit of Rs. 1,00,000.
For a flourishing MSME
- For standalone spinning units – 2% interest reimbursement for new standalone / replacement / modernization of spinning machinery.
- 5% interest reimbursement for units having spinning capacity with forward integration also having matching capacity of weaving / knitting processing / garmenting.
- 6% interest reimbursement and 15% capital subsidy or 30% Margin Money Subsidy (MMS) on brand new shuttleless loom for powerloom sector.
- 2% of interest reimbursement or 8% Margin Money Subsidy on second hand imported shuttleless looms with 10 years vintage and with residual life of minimum 10 years.
- For 30% MMS – capital ceiling caps of Rs. 5 crore and subsidy cap of Rs. 1.5 crore would be adhered to for encouraging adequate investments by the MSME sector.
- 5% interest reimbursement plus 10% capital subsidy for specified processing machinery, garmenting units & technical textile.
- 5% interest reimbursement plus 30% capital subsidy on benchmark machinery.
- 5% interest reimbursement or 15% Margin Money Subsidy for MSMEs including Jute sector subject to ceiling of Rs. 75 lacs.
Get the most out of the facilities
Ideal Industries for Setup of Business
Textile & Apparel
Electronics & Electrical
Pharmaceuticals & Drugs
Gems & Jewellery
Project is approved by Major Financial Institutions for Residential units.
To avail loans for Industrial & Residential Units, please contact our authorized sales representative.
Disclaimer: The benefits listed above are indicative, may change based on the government policies & customers are advised to verify the details with the respective institutions / industry regarding type & nature of benefits suitable for their business to be set up in the Empire Industrial Hub. Home Loans for Residential Units will be as per the terms & conditions of respective financial institutions / banks.