Hi folks! If you don’t want to visit your Bank in the normal working hours for getting the home loan certificate, you can download it online. If you have availed a home loan and you are in need of a home loan certificate, it is just available at your finger tips. Here we will demonstrate steps of downloading the home loan certificate sitting at home and benefits. You can save time as well as avoid the physical rush in bank.
Why home loan certificate is required. – Suppose you are working in an organization and your gross salary falls under taxable income and Tax is deducted at source by the employer. The benefit of availing Home loan is that the Interest debited in Home loan for a given financial year can be claimed for deduction under Section 80C under Income Tax Act to a maximum limit of Rs 1.50 lacs. Moreover the Principal portion of the Home loan paid off directly gets deducted from the Gross income of the payer. So a Home loan certificate is required to claim tax rebate. So everyone wants to minimize tax payment and to make this happen one can claim rebate Under Income/ loss under House property. Thus you need to inform your employer by submitting a home loan certificate to reduce the tax payable from you salary which also increases your home take salary. As employee you need to provide the details by producing home loan certificate.
Home loan certificate consists of two parts:-
Repayment towards principle, for e g, Rs – X
Repayment towards interest – Y
So Rs X will be directly deducted from the gross salary and Rs Y can be claimed under section 80C. In this way you can decrease your tax liability and increase your home take salary. After downloading the home loan certificate you can feed data into ITR filling also.
If you have net banking facility, then only you can download the Home loan income certificate. If you do not have net banking facility, please avail this facility to get this benefit.
Please login to https://retail.onlinesbi.com/retail/login.htm
With the help of credential you can login to main page .
After successful login. Go to the e- services
After clinking on e- services , you can reach this page (mentioned below). Then click on My certificate.
After clicked on My certificate , below mentioned page will be opened.
Then we have to choose the loan account number and select the financial year and then after select the
submit button. Now you see the home loan certificate. You get download it in pdf form or word form.
Provisional home loan certificate
By same method we can download the provisional home loan certificate.
Why provisional home loan certificate is required?
We all are aware that we have to submit a provisional declaration to the employer in the beginning of the financial year to reduce tax deduction from salary. Thus a Provisional home loan certificate is produced to get the benefit and actual home loan certificate is submitted at the time of ITR filing for claiming actual deduction.