One of the best Advocates & Lawyers in Indore - Advocate Jasmeet Singh Hora

Advocate Jasmeet Singh Hora

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LawRatoManik Bagh Road, Indore
LawRato9 years Experience
Practice Areas
Bankruptcy / Insolvency, Breach of Contract, Corporate, Customs & Central Excise, GST, Media and Entertainment, Tax
Language(s) Spoken: English, Hindi
Advocate Jasmeet Singh Hora has been practicing and handling cases independently with a result oriented approach, both professionally and ethically and has now acquired many years of professional experience in providing legal consultancy and advisory services.

Advocate Jasmeet provides services in various field of Customs & Central Excise, Taxation and Corporate Law,.

Advocate Jasmeet enrolled with the Bar Council of Madhya Pradesh in 2015. He is a member of the Bar Association of Madhya Pradesh.

Enrollment Number : MP/1421/2015

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Questions Answered by Advocate Jasmeet Singh Hora

Q: Can I get rebate on loans in income tax.

Currently i am having two housing loans :--- 1.flat loan from sbi 2.plot loan from lichfl. Can i get rebate on both loans in income tax.

Advocate Jasmeet Singh Hora answered
You can only avail tax exemption on your Flat Loan from SBI & no exemption on your plot loan from LICHFL. Borrowers can avail tax exemption on a plot loan only after completion of construction. No tax benefit can be claimed for the period before completion, unlike a home loan where interest charged during the under-construction period can be claimed in five years, post completion, subject to the overall limit.The tax deductions will be applicable only in the year in which the construction is completed. The principal repayment you make on your home loan is eligible for income deduction under Section 80C upto Rs. 1,50,000/Year.Under Section 24, if your house is self-occupied, the maximum amount of interest that can be deducted from your income is Rs 1,50,000/Year. "Borrowers must ensure that they construct the houses as per building plan only. Any non-compoundable deviations may lead to difficulty in availing fresh loans later. Secondly, once the construction is completed, remember to submit copies of the completion certificate or occupation certificate to the bank so that the plot loan can be converted into regular home loan and borrower can avail income tax benefit. But, if you take a loan for construction, that means a loan to build a house on that plot of land, then you can get a tax break.In such a case, the tax benefits are available on both portions of the loan ? the one to purchase the plot and the one taken to construct the house thereon. Let's say you took a Rs 5,00,000 loan to buy a plot of land and a year later you took a Rs 3,00,000 loan to construct. Now the total amount will be combined and you will get the tax benefit on the entire amount.

Frequently Asked Questions about Advocate Jasmeet Singh Hora

Can Advocate Jasmeet Singh Hora represent me in court?

Yes, Advocate Jasmeet Singh Hora can represent you in court. The lawyer is trained to present your case in the most effective way possible.

What should I bring to my initial consultation with Advocate Jasmeet Singh Hora?

When you meet with Advocate Jasmeet Singh Hora for an initial consultation, it is important to bring any relevant documents or information with you. This may include documents related to your legal issue, such as contracts or court orders, as well as any other relevant information, such as a list of questions or concerns you have about your case.

How do I prepare for my initial consultation with Advocate Jasmeet Singh Hora?

Before your initial consultation with Advocate Jasmeet Singh Hora, it can be helpful to think about the specific legal issue you are facing and any questions or concerns you have about your case. You should also gather any relevant documents or information that you think may be helpful in understanding your situation.

What should I expect during my initial consultation with Advocate Jasmeet Singh Hora?

During your initial consultation with Advocate Jasmeet Singh Hora, you can expect to discuss the specific legal issue you are facing and the details of your situation. Lawyer will ask you questions to get a better understanding of your case and will provide you with information about your legal options and any potential outcomes.

How do I communicate with Advocate Jasmeet Singh Hora?

It is important to communicate with Advocate Jasmeet Singh Hora regularly to stay updated on the progress of your case and to discuss any new developments or concerns you may have. You can communicate with the lawyer through phone calls, emails, or in-person meetings.

How much does it cost to hire Advocate Jasmeet Singh Hora?

The cost of hiring Advocate Jasmeet Singh Hora can vary widely. Some lawyers charge hourly rates, while others charge a flat fee for their services. Some also offer free initial consultations to discuss your case. Kindly contact the lawyer directly to enquire about the fee.