A Comment on unknown facts of tax reliefs for home loans under Section 24 and 80C

My Comment on an article "Six things about home loan tax incentives you didn't know" published in the economictimes.com Dated 24/05/2016 at 3 pm.


"Very useful information provided in this article by the author. 

The differences between deductions allowed under Section 24 and Section 80C have been clearly mentioned. 

Most of us do not know that tax relief is allowed on interest payments and consultancy or other fees paid for borrowings made even for the repairs and reconstruction of our homes. 

The main points underlined are:

• You can claim tax benefit for interest accrued for the full year even though you skipped some EMIs.
• Processing fees and other charges incurred in getting the loan are also tax deductible.
• Loans obtained from friends and relatives are also tax deductible if taken for home loan purpose.
• Loan principal repayments during the pre-construction period can not be claimed for tax relief. But interest part of those EMIs can be claimed for tax relief during subsequent 5 years after possession of the house.
• If it is a joint loan, one should be a co-borrower along with being a co-owner of the house for enjoying the tax reliefs.

A Comment on a news report terming Tamils as sycophants who grab freebies, but vote out incumbents

My Comment on an article "Tamils always lap up freebies and vote incumbents out. Here's how Jaya bucked the trend" published in the economictimes.com Dated 21/05/2016 at 4:30 pm.


"I do not agree with the author's remark that Tamils are sycophants. 

It is not sycophancy, they are, rather,true ideal worshippers of their leaders who are honest in their intentions to provide the poor common man at least some basic necessities that are essential for their living. 

Their leaders are much sensible and generous in caring for their general public. So, the public also tries to treat them with some love and devotion." 

A Comment on Public Sector Banks reporting losses

My Comment on an article "PSBs in deep waters! Nine banks report net losses of Rs.14,000 crore so far" published in the economictimes.com Dated 20/05/2016 at 5 pm.


"I think that PSUs should be allowed to get partnered with the private sector by making them joint-sector banks. This will induce more control on the assets and functionings of these banks and thereby keep them more balanced."

A Comment on Global Banks opting out or streamlining their businesses

My Comment on an article  "Why Global Banks are opting out of India or streamlining their businesses?" published in the economictimes.com Dated 20/05/2016 at 5 pm.


"The position is becoming more and more deteriorating in the banking business.

I think banking business has become somewhat like a business with no serious control and responsibility on the part of the administrators. Look at the losses being reported by many of the PSU banks when they are strictly ordered to project the actual position. It shows that all these banks have been floating on imaginary profits till now. 

The global banks will never like to be involved in such a deteriorating atmosphere. Further, many regulations have been imposed on global businesses by our laws.Hence, they would definitely try to restrict their activities from incurring losses or tarnishing their image.

So, who will think of investing in such elusive and restrictive atmosphere of Indian market?" 

A Comment on Modi Sarkar's efforts in securing economic recovery

My Comment on an article "Modi Sarkar@2: PM Modi's sound and sensible plan could lead to economic recovery" 


"His government has done some good work for the benefits of rural and poor man. Our country's economy has also been stabilised to a certain extent. 

His image has grown among foreign countries after he became the PM because of his developmental works and foreign policy." 

My further comment on a reader's objection to my point

"Our government can't bear subsidies or tax reliefs anymore. They have to balance the budget. 

Prices are controlled by the market. People should refrain from excess consumption so that demand for commodities comes down. Then only we can force the sellers to decrease prices. 

Service Tax is essential as it generates revenue for other public works."

A comment on Infosys outperforming Cognizant

My Comment on an article "Sikka's Infosys looks set to outdo D'Souza's Cognizant after 13 years" published in the economictimes.com Dated 14/05/2016.



"That's a great news and will be much exciting for Infy people if it becomes real.

Infosys people are becoming more smart and competent recently and their sincere efforts have become fruitful.

It is a team effort as a whole and should not be credited to Sikka's account alone.

People at Cognizant ( a small portion of them) have become somewhat overconfident and let things go on their own way, which must be a reason for their downgrade. Further, it is a very vast organisation and full supervision is not possible at all levels."

A Comment on introduction of Geospatial bill curbing usage of Maps and GPS apps

My Comment on an article "Geospatial bill will impact tech giants like Google, Uber as well as Indians using GPS-enabled smartphones" published in the economicetimes.com Dated 11/05/2016 at 6 pm. 


"I hope this step is being taken by our governments in the interest of our country's security. 

People should stop sharing everything on the internet publicly. It can be of much risky for our security.

But, our government should also consider other options of allowing people who want to track their path on journeys with the help of GPS. Tourists and all service providers should be able to reach their destinations without any problems." 

A Comment on housing prices stagnating in major cities

My Comment on an article "Investors' pain becomes buyers' gain as housing prices stagnate" published in the economictimes.com Dated 10/05/2016 at 10:30 pm.


"I think Pune and Hyderabad have good prospects for IT sector development. Whereas Mumbai and Delhi have reached their saturation points and there is no further scope for development. That can be one major reason for a great demand and price appreciation in Pune and Hyderabad realty prices".