Tax benefit on Home Loan

Tax benefit on Home Loan (Principal Amount)

The amount paid as Repayment of Principal Amount of Home Loan by an Individual/HUF is allowed as tax deduction under Section 80C of the Income Tax Act. The maximum tax deduction allowed under Section 80C is Rs. 1,50,000.

This tax deduction is the total of the deduction allowed under Section 80C and includes amount invested in PPF Account, Tax Saving Fixed Deposits, Equity Oriented Mutual funds, National Savings Certificate etc.

This tax deduction under Section 80C is available on payment basis irrespective of the year for which the payment has been made. The Amount paid as Stamp Duty & Registration Fee is also allowed as tax deduction under Section 80C even if the Assessee has not taken Loan.

However, tax benefit of home loan under this section for repayment of principal part of the home loan is allowed only after the construction is complete and the completion certificate has been awarded. No deduction would be allowed under this section for repayment of principal for those years during which the property was under construction.

TAX BENEFIT ON HOME LOAN (INTEREST AMOUNT)

Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24 of the Income Tax Act. As per Section 24, the Income from House Property shall be reduced by the amount of Interest paid on Home Loan where the loan has been taken for the purpose of Purchase/ Construction/ Repair/ Renewal/ Reconstruction of a Residential House Property.

The maximum tax deduction allowed under Section 24 of a self-occupied property is subject to a maximum limit of Rs. 2 Lakhs (increased in Budget 2014 from 1.5 Lakhs to Rs. 2 Lakhs).

In case the property for which the Home Loan has been taken is not self-occupied, no maximum limithas been prescribed in this case and the taxpayer can take tax deduction of the whole interest amount under Section 24.

Publishing your android App to Google Play Store

Publishing your app

$ cordova plugin rm cordova-plugin-console

$ cordova build --release android

This will generate a release build based on the settings in your config.xml. Your Ionic app will have preset default values in this file, but if you need to customize how your app is built, you can edit this file to fit your preferences. Check out the config.xml file documentation for more information.

Next, we can find our unsigned APK file in platforms/android/build/outputs/apk. In our example, the file was platforms/android/build/outputs/apk/HelloWorld-release-unsigned.apk. Now, we need to sign the unsigned APK and run an alignment utility on it to optimize it and prepare it for the app store. If you already have a signing key, skip these steps and use that one instead.

Let’s generate our private key using the keytool command that comes with the JDK. If this tool isn’t found, refer to the installation guide:

$ keytool -genkey -v -keystore my-release-key.keystore -alias alias_name -keyalg RSA -keysize 2048 -validity 10000



You’ll first be prompted to create a password for the keystore. Then, answer the rest of the nice tools’s questions and when it’s all done, you should have a file called my-release-key.keystore created in the current directory.

Note: Make sure to save this file somewhere safe, if you lose it you won’t be able to submit updates to your app!

To sign the unsigned APK, run the jarsigner tool which is also included in the JDK:

$ jarsigner -verbose -sigalg SHA1withRSA -digestalg SHA1 -keystore my-release-key.keystore HelloWorld-release-unsigned.apk alias_name



This signs the apk in place. Finally, we need to run the zip align tool to optimize the APK. The zipalign tool can be found in /path/to/Android/sdk/build-tools/VERSION/zipalign. For example, on OS X with Android Studio installed, zipalign is in ~/Library/Android/sdk/build-tools/VERSION/zipalign:

$ zipalign -v 4 HelloWorld-release-unsigned.apk HelloWorld.apk



Now we have our final release binary called HelloWorld.apk and we can release this on the Google Play Store for all the world to enjoy!

(There are a few other ways to sign APKs. Refer to the official Android App Signing documentation for more information.)

keytool -genkey -v -keystore acharyasri-key.keystore -alias acharyasri -keyalg RSA -keysize 2048 -validity 10000

jarsigner -verbose -sigalg SHA1withRSA -digestalg SHA1 -keystore acharyasri-key.keystore platforms/android/build/outputs/apk/android-release-unsigned.apk acharyasri

zipalign -v 4 E:/MobileApps/aacharya/android/build/outputs/apk/android-release-unsigned.apk Acharyasri.apk

Google Play Store

Now that we have our release APK ready for the Google Play Store, we can create a Play Store listing and upload our APK.

To start, you’ll need to visit the Google Play Store Developer Console and create a new developer account. Unfortunately, this is not free.