Can we claim petrol bills for income tax?

Can we claim petrol bills for income tax?
If the employee owns the car, an exemption of Rs 2,700 per month or Rs 3,300 per month in respect of the driver salary, maintenance and fuel expenses borne and reimbursed by the employer.

Which is better itemized or standard?
Advantages of itemized deductions Itemized deductions might add up to more than the standard deduction. The more you can deduct, the less you’ll pay in taxes, which is why some people itemize — the total of their itemized deductions is more than the standard deduction. There are hundreds of possible deductions.

How is refinancing risk part of interest rate risk?
It is known that refinancing risk is bigger when the interest rates increase because some borrowers are not able to bear the expense of a higher interest rate on a loan and therefore, they are not able to repay the original debt. 3. Refinancing risk is very likely to occur if there is an increase in interest rates.

Is remortgaging the same as refinancing?
A remortgage and a refinance both describe the same concept of using a new loan to pay off the present mortgage. The only difference is that while ‘refinancing’ is the term used in Canada and the United Kingdom, ‘remortgaging’ is commonly used in the United States.

Should I refinance from 30 to 15?
Refinancing from a 30-year, fixed-rate mortgage into a 15-year fixed-rate note can help you pay down your mortgage faster and save lots of money on interest, especially if rates have fallen since you bought your home. Shorter mortgages also tend to have lower interest rates, resulting in even more savings.

What is the advantage of a home equity loan?
One of the advantages of getting a home equity loan is access to a large sum of cash. Another advantage is a fixed interest rate, which means predictable payments. Although popular, HELOCs come with a variable rate that makes monthly payment amounts less predictable.

What is a disadvantage of a fixed rate 30-year mortgage?
You pay more interest When you get a 30-year fixed-rate loan, your mortgage lender’s risk of not getting paid back is spread over a longer period of time. For this reason, lenders charge higher interest rates on loans with longer terms.

What is the disadvantage of equity financing?
The main disadvantage to equity financing is that company owners must give up a portion of their ownership and dilute their control. If the company becomes profitable and successful in the future, a certain percentage of company profits must also be given to shareholders in the form of dividends.

Which bond has more interest rate risk Why?
Therefore, bonds with longer maturities generally have higher interest rate risk than similar bonds with shorter maturities. to compensate investors for this interest rate risk, long-term bonds generally offer higher coupon rates than short-term bonds of the same credit quality.

Is a longer fixed-rate mortgage best?
The longer your fixed term, the longer you are locked into a lower interest rate. Although there is no limit to how many times you can remortgage if you opt for a long fixed-term period you may have exit penalties and early redemption fees if you want to repay your mortgage or move.

Can we claim 80D and 80ddb together?
This deduction is fixed irrespective of the actual expenses. However, remember both these deductions cannot be claimed simultaneously. Section 80DD: The deduction can be claimed for the expenditure incurred on the medical treatment (including nursing), training and rehabilitation of a person with disability.

What is the difference between repricing and refinancing?
Repricing refers to switching to a new home loan package within the same bank while refinancing refers to closing your current home loan account and setting up a new home loan account with another bank.

Which bond does not have interest rate risk?
A Treasury bill, also called a T-bill, is a non-interest bearing (zero-coupon) debt security issued by the U.S. government with a maturity of four, 13 or 26 weeks. A Treasury bond is a long-term debt security issued by the U.S. government with a maturity of 10 to 30 years, paying a fixed interest rate semiannually.

What are the four types of interest rate risk?
These include repricing risk, yield curve risk, basis risk and optionality, each of which is discussed in greater detail below.

What are two advantages of using a home equity loan?
Pros of a Home Equity Loan A fixed interest rate with set monthly payments for a fixed period of time. Lower interest rates than many other common forms of debt. Easy-to-obtain large sums of money that you may not qualify for through other avenues.

How to get the lowest interest rate on a mortgage?
Shop around. When looking for mortgages, be sure to contact several different lenders. Improve your credit score. Choose your loan term carefully. Make a larger down payment. Buy mortgage points. Rate locks. Refinance your mortgage.

Which is better loan or equity?
Debt financing can be riskier if you are not profitable as there will be loan pressure from your lenders. However, equity financing can be risky if your investors expect you to turn a healthy profit, which they often do. If they are unhappy, they could try and negotiate for cheaper equity or divest altogether.

What are the four 4 sources of interest rate risk?
These include repricing risk, yield curve risk, basis risk and optionality, each of which is discussed in greater detail below.

Which bond is most sensitive to interest rate risk?
Long term bonds are most sensitive to interest rate changes.

Why are refinance rates higher than purchase rates?
In most cases, refinance rates are a bit higher than purchase rates, for instance, cash-out refinance rates are higher because it’s considered riskier. Lenders also assess your refinance rate based on factors such as your credit score and the number of assets and liabilities you have.