Stamp duty for share trading in tamilnadu

Section 80C replaces the Section 88 with more or less same investment mix available in Section The new section 80C has become effective w. Even the section 80CCC on pension scheme contributions was merged with the above Section 80C. However, this new section has allowed a major change in the method of providing the tax benefit.

Section 80C of the Income Tax Act allows certain investments and expenditure to be tax-exempt. One must plan investments well and spread it out across the various instruments specified under this section to avail maximum tax benefit.

Unlike Section 88, there are no sub-limits and is irrespective of how much you earn and under which tax bracket you fall. The Maximum limit of deduction under section 80C is Rs 1. Before FY the limit was Rs.

Under this heading many small savings schemes like NSC, PPF and other pension plans. Payment of life insurance premiums and investment in specified government infrastructure bonds are also eligible for deduction under Section 80C. Most of the Income Tax payee try to save tax by saving under Section 80C of the Income Tax Act.

However, it is important to know the Section in toto so that one can make best use of the options available for exemption under income tax Act. One important point to note here is that one can not only save tax by undertaking the specified investments, but some expenditure which you normally incur can also give you the tax exemptions. Besides these investments, the payments towards the principal amount of your home loan are also eligible for an income deduction.

Education expense of children is increasing by the day. Under this section, there is provision that makes payments towards the education fees for children eligible for an income deduction. Section 80C of the Income Tax Act is the section that deals with these tax breaks. It states that qualifying investments, up to a maximum of Rs. This means that your income gets reduced by this investment amount up to Rs. This benefit is available to everyone, irrespective of their income levels. PF is automatically deducted from your salary.

Both you and your employer contribute to it. You also have the option to contribute additional amounts through voluntary contributions VPF. Current rate of interest is 8. Public Provident Fund PPF: Among all the assured returns small saving schemes, Public Provident Fund PPF is one of the best. Minimum amount of contribution is Rs and maximum is Rs 1,50, A point worth noting is that interest rate is assured but not fixed.

Read more- All about PPF and Income tax benefit. Any amount that you pay towards life insurance premium for yourself, your spouse or your children can also be included in Section 80C deduction. If you are paying premium for more than one insurance policy, all the premiums can be included.

It is not necessary to have the insurance policy from Life Insurance Corporation LIC — even insurance bought from private players can be considered here. Read More- Life Insurance Premium- Tax benefit on Payment and Maturity. Equity Linked Savings Scheme ELSS: There are some mutual fund MF schemes specially created for offering you tax savings, and these are called Equity Linked Savings Scheme, or ELSS.

The investments that you make in ELSS are eligible for deduction under Sec 80C. Read More- Section 80C — Investment in Equity Linked Savings Scheme ELSS.

Home Loan Principal Repayment: The Equated Monthly Installment EMI that you pay every month to repay your home loan consists of two components — Principal and Interest.

The principal component of the EMI qualifies for deduction under Sec 80C. Even the interest component can save you significant income tax — but that would be under Section 24 of the Income Tax Act.

Stamp Duty and Registration Charges for a home: The amount you pay as stamp duty when you buy a house, and the amount you pay for the registration of the documents of the house can be claimed as deduction under section 80C in the year of purchase of the house.

A maximum of Rs 1. S ukanya Samriddhi Account meaning Girl Child Prosperity Scheme is a special deposit scheme launched by Prime Minister Narendra Modi on 22 January for girl child.

The scheme of Sukanya Samriddhi Account came into effect via notification of Ministry of Finance. The notification details are Notification No. Presently, the interest is paid 8. Interest is Compounded Half Yearly. While the minimum investment amount is Rsthere is no maximum amount. Premature withdrawals are permitted only in specific circumstances such as death of the holder. Investments in NSC are eligible for a deduction of upto Rsp.

Furthermore, the accrued interest which is deemed to be reinvested qualifies for deduction under Section 80C. However, the interest income is chargeable to tax in the year in which it accrues. These are also popularly called Infra Bonds. These are issued by infrastructure companies, and not the government. The amount that you invest in these bonds can also be included in Sec 80C deductions. Pension Funds — Section 80CCC: This section — Sec 80CCC — stipulates that an investment in pension funds is eligible for deduction from your income.

Section 80CCC investment limit is clubbed with the limit of Section 80C — it means that the total deduction available for 80CCC and 80C is Rs. This also means that your investment in pension funds upto Rs. Tax-saving fixed deposits FDs of scheduled banks with tenure of 5 years are also entitled for section 80C deduction. Senior Citizen Savings Scheme SCSS: A recent addition to section 80C list, Senior Citizen Savings Scheme SCSS is the most lucrative scheme among all the small savings schemes but is meant only for senior citizens.

Interest Senior Citizen Savings Scheme is payable quarterly instead of compounded quarterly. Interest income is chargeable to tax. The account may be opened by an individual. POTDs are similar to bank fixed deposits. Although available for varying time duration like one year, two year, three year and five year, only 5-Yr post-office time deposit POTD — which currently offers 8.

Interest is compounded quarterly but paid annually. The Interest is entirely taxable. There are two types of Bonds issued by NABARD National Bank for Agriculture and Rural Development: NABARD Rural Bonds and Bhavishya Nirman Bonds BNB. Out of these two, only NABARD Rural Bonds qualify under section 80C. Unit linked Insurance Plan: ULIP stands for Unit linked Saving Schemes. ULIPs cover Life insurance with benefits of equity investments.

They have attracted the attention of investors and tax-savers not only because they help us save tax but they also perform well to give decent returns in the long-term. Like most other things in personal finance, the answer varies from person to person. But the following can be the broad principles:. This is deducted compulsorily, and there is no running away from it! So, this has to be the first.

Also, apart from saving tax now, it builds a long term, tax-free retirement corpus for you. If you are paying the EMI for a home loan, this one is automatic too! So, it comes as a close second. Every earning person having dependents should have adequate life insurance coverage. If you think that the PF being deducted from your salary is not enough, you should invest some more in VPF, or in PPF.

After the above, if you have not reached the limit of Rs. After all, what can be better than something that gives great return and helps save tax at the same time? Many of us start looking for investment avenues only in February or March, just before the Financial Year is getting over.

This is a big mistake! One, you would end up investing your money without putting proper thought to it. Instead, decide where you want to make the investments, and start investing right from the beginning of the financial year — from April.

This way, you would not only make informed decisions, but would also earn the interest for the full year from April to March. Me and my mother are joint ownerrs in a Flatwe paid for the registration fee and Stamp Duty Rs. Can I claim an exemption of 1 lakh in 80C? I fully agree with these notes, when it comes to tax saving SIP is also one of the best option for tax saving.

However, the according to section 80C, the maximum limit of investment is up to Rs. Is the NSC to be purchased every year to save tax.

I have bought NSC last year and claimed exemption from saving tax and the same can be shown in this year or i should apply for new one. Whether the Fixed Deposits also to be bought every year. If any female got flat as a alimony after transfer of this property on her name do she need to pay income tax on difference of circal rate 2 after some time she sold it out and purchased small flat in this transaction also do she need to pay tax please clear.

HI, I would like to know if I could claim Tax exemption with 80C for 1. One query Insurance premiums paid by father on the policy of the major son without PAN card, premiums exceeded Rs LIC asked for Pan card of son. I took a life insurance this year and i am paying a premium of 80K anually and the sum assured is You could invest additional of 50k under NPS new pension scheme. This is eligible for deducution under 80 CCD 1B.

Sir I had claimed full deduction of Rs. Can you please help. Hi taxgurus, I need your help to file tax and reduce the amount that i pay to i. I plan to buy some Agri land trough bank loan. Is it help me to reduce tax. I have purchased a house in Oct and have paid Rs. Can the benefit of deduction for payment of Stamp Duty and Registration Fee paid for purchase of house be claimed Under Section 80C with overall limit of Rs. The author is out of date with interest rates on various schemes.

Example — Senior Citizen Savings Scheme is 8. I would like to know below that how much is the cap that can be saved annually max under 80c tax by elss and for that how much needs to be invested annually. Under section 80C you will be eligible for deductions of up to RS: In case you need help reach out to us dsssvtax gmail.

For all your queries related to Savings or Investments, I request you to please call or mail on the below mentioned contact details. Regards, Aseem juneja Financial Advisor Tel: OK TELL ME ONE THING. We have taken the second loan for a new home after retirement. For all your queries related to TaxSavings or Investments, I request you to please call or mail on the below mentioned contact details. I need to invest more this year to complete deduction of Rs.

My wife is a housewife without any taxable income. Is it possible for me to get the tax benefits, if I invest that on her name?

They claim that the VAT is payable only on the price of goods sold. Can anyone guide me where I have to invest money so I can get good regular income after my retirement. My age is 45 years and my salary is per month. After all above investment I can invest more Rs. Pls sir u may refer mutual fund schemes…. SIP in Mutual funds are the best tool for good returns in long-term.

You can call me at for details. I have a question i have a daughter of 10 yrs and her grandmother is paying the premium in life insurance will she get the rebate for her granddaughter or grandson.

I have a question, my wife is suffering from ulcerative collitis, a chronic disease. Can i claim tax benefit under section 80DDB. Can a Long term Capital gain amount accruing by virtue of sale of property which was held by single person be invested in a joint property which he and his wife bought 6 months before making this Capital Gain?

I had a joint property along with my wife on which we made a Short term Capital Gain of Rs. How is the Capital gain to be distributed between both of us? I bought a house for Rs. I spent 3 lacs on furnishing the house for which I do not have bills.

I sold the house within 3 years of purchasing it at Rs. Now for calculating Capital Gain tax, Can I: Mangat Ram, Your total pension that is service element and disability element is exempt from income tax. There is a govt letter to this effect. So can I claim rent amount under any section? Is 80C applicable on stamp duty and registration charges fo both self occupied and let out property?

Uder 80C i didnot find any row with respect to stamp duty and registration charges. Need your help urgently My employer has asked me to submit the LIC proofs for I pay my LIC permium in 2 slots. Now I only have E Reciept of 1st Preimum. So, can I upload the receipt of only 1st premium mentioning 1lac and then claim the rest in Income tax file return. So my quiry is whether i would get tax deduction for Rs. I have been given to understand that NSC IX issue for 10 years is no longer available but I did not find any notification on internet.

I have two LIC policy. Jeevan Surahbi and 2. Which policy includes which tax saving schemes 80C or 80CCC? Sir, I have purchased open plot in the FY and started construction residential building on it during the same year. Will bank deduct TDS for whole interest of 8 years or for each financial year? May this FD come in 80C category. Regards, Aseem juneja Financial Consultant Chatur Investment Tel: Is it 50k itself or 10K? I have joint Account with my brother can we show both in our books as well as ITR and take rebate on interest.?

I have booked a flat which is under construction. I have done registration of the flat on julyand paid registration fees. I will get the possession of the flat next year i. Now my question is in which financial year i can get rebate for both stamp duty and tax on flat cost paid by me under section 80c.

Hi, I had purchased a house in June and have paid stamp duty and registration fees in Jun The possession of my house is in May Can I claim the stamp duty and registration fees under section 80 C this year? I have opened sukanya samradhi account for my daughter and her mother is gardian in that account.

Can i take tax benefit under 80C as i am depositing money from my salary D T6 or only my wife is eligible for tax exemption? Does it have any ceiling limit for the expenditure incurred upon medicals. Hello I have another question not entirely related. I would like to know that if i have only capital gains income from equity which is less than my investments in 80C than what is the tax implication.

For example i have invested 1. Do i need to pay any income tax at all?? Education Fees paid for higher education in USA of my child is exempted under 80c or not within limit 1. My son is in service and he is 40 years old. I have a question regarding income tax rebate in section ATC. My son is in service. I am pensioner so I cant have an insurance.

I want to get the insurance of my son so that I can have income tax rebate. I have paid Rs. I am depositing Rs. Can I also get any tax benefit for that. Amt paid towards repayment of Education Loan of son will qualify for deduction under sec80c? I forgot to show my investment LIC made on Febunder section 80c last year Is it possible to show it now for — March and get the 80c benefit. Sir, I have a LIC in my name whose premium is 1,44, My total income in FY is I have left my job in August This years premium has been paid by my parents as dont have that much money.

Can I still use this amount in 80c to reduce my taxable income? My annual income is about 6,25, per year, and I am paying LIC Premium 20, per year, so how much tax I have to pay in under 80c. This is regard to ppf account. I have deposited for financial year twelve months Rs Ihad made a deposit every monthand complted 12 months.

Now I want to turther deposit this month to avoid tax. I have Grand child. She is dependent on me. I pay her school fees. Whether I am eligible to take Income tax deduction under 80 c of educaiton fees. Hi, I have Question that I purchased 1 LIC policy for this polict premium payment is quarterly. I have spent Rs. This is inclusive of tution fees and books expense. Is it eligible book expense under 80cc? Sir is it eligible for exemption under section 80C, as the section talks about the tuition fees paid for children and not for spouse.

I have done registration of the said flat and paid the registration fees and stamp duty. I will get the possession of the flat next year ie after May tentatively. Can I avail benefit under 80C in current financial year. Hello sir, my income per year, and I am paying LIC Premium per year, so how much tax I have to pay in under 80c. Sir I am a retired person. I have invested 9 lakhs from my retirement benefit in the Post Office MIS Scheme The monthly interest is diverted to Cumulative Term Deposit 5 Years for 5 years.

I want to know whether the MIS interest is taxable or not; even though the same is deposited to 5 year CTD in the Post Office. Also On maturity of CTD, whether the amount is taxable or not. Please reply An early reply is highly solicited. Is Infrastructure bond still liable for tax exemption under 80C? I read on other sites and they have mentioned that its not considered since FY I got medical reimbursement is this income.

This wil be shown as income or not please clarify it. I an senior citision. I want to get benifit of c with maximum rate of interest and less period with minimum TDS. Repayment of house loan during the FY comes to Rs 3lakhs as principal and Rs as interest. GPF contribution is Rs and Tuition fee remitted is Rs How can I distribute this amount for tax dedution. I sold my house in November in 9.

I am a government employee what is the procedure to show this in my income tax return and what is the calculation. I am working and avail HRA. Recently I have bought a ready flat in my home town where I am not staying for which I have paid stamp duty and registration charges and also have availed a home loan.

Both or husband or wife avail to. If a loan is taken by husband and the payment is being made by wife and also wife is the owner of the property. If husband has taken loan from the bank and wife is paying interest and principal amount. Who can avail the deduction related to this loan? Pleae help me with it. I have purchesed second flat. I am buying a flat for self use which is under construction and the posseion will be by Dec I will be doing my stamp duty and registration on 10 Feb I would like to know whether I can show the cost of stampduty and registration in 80C for this finicial year.

Please suggest me better equity funds. I have query that in under construction House. If we have taken the loan. Can we claim principle amt and interest paid to bank if we have not get the possessions till now. LIC insurance payment made by father in behalf of son upto which age or there is age limit while income tax exemption under 80C. If yes then LIC Payment receipt is sufficient document, submit for proof? Hi, I have puchase a flat with my wife as partner. My wife is in Govt. My she have to submit the certified copy of deed or xerox copy of sale deed where the name of second owner is dictated.

Either both can or only my wife can claim the deduction?

Dear siir Is amount paid under rpmf of Rajasthan govt employees Is rebatable under 80 c. Can i show my cousins LIC insurance payment under 80C section while income tax exemption, which is always done by me?

If yes then what document i need to submit for proof? Pl inform if HUF can take Life Insurance Policies for any coparcener Karta, Karta spouse, karta childrenkarta Grandchildren and whether this is exempt under Sec C —. Pl inform if Life Insurance Policies can be taken by Grandparent for Grandchild child, minorteenager — Is this eligible for exemption under Sec C or not exempted. Sec C is not clear. My Question is that I Have Fix Deposit Amount Term is 3 years Can I take Take this amount in 80c Please advise me or please call on I am taking rebate on home loan since and I have taken again home loan in against extantion part construction in same home.

Is it return wuold be rebated or money will be rebated that we going to pool in mutual fund. Hello Can you please tell me how to claim Section 80 IA deduction. What is the procedure for the same. Its my first time when I am handling this type of work.

So what all documents are required for the claiming it. Sir, I have a question. He has never claimed this insurance in his tax-benefit. I am also working. Can i show this LIC premium for my tax benefit scheme.

YOU can contact for the same: And also contact for Company Secretary and Chartered Accountant office work. Respected Sir, I already submitted Rs. This account opened in My questions are —. Can I invest my money in NSC? If the answer is yes, then is it tax free when I will get the mature amount after 5 or 10 years later on interests??? Will I have to pay tax on the interests of my PPF account after mature in the end of the year ???

Plz give me some suggestion…. I have till 5 months salary…. Now I want to invest the money of my next months salary…. I already saved Rs. Please guide us regarding 80C, Any amount that you pay towards life insurance premium for yourself, your spouse or your children can also be included in Section 80C deduction —. Please inform me whether any person can claim for LIC premium paid by him for his Adult Son or Married daughter also?

What are the guidelines? Now my question is that, my grand son who is staying with us and i will deposit the education fees for Rs. Recently I have bought a ready flat where I am not staying for which I have paid stamp duty and registration charges and also have availed a home loan.

O calculated perquisite amount wrongly on higher side and deducted higher TDS. He issued Form 16 with the wrongly calculated perquisite amount. He is not willing to correct FORM My auditor says Form 16 should be corrected otherwise we cannot claim refund. Till date I have not filed my I.

Sir, I have a query. I have purchased Rs. Now I want to take a loan against these NSCs from a bank by pledge it within same FY. What is the provisions of I tax. SO, HOW CAN I DOWNLOAD THE FORM PLEASE REPLY, AWAITING YOUR ANSWER.

Now we have to pay also the service tax along with the insurance premium, It is my question ,whether we are entitled to claim the deduction for L I C along with service tax or without service tax. However in my opinion we cant not claim the deduction of L I C alongwith service tax, WHAT IS YOURS VIEW. For income tax purpose I produce annual statement of the bank. How can I get this certificate?

Who will give me this certificate? Wether respective bank or panchayath or village officer? I am providing software services from my home so no majaor expenses. I am currently residing in a flat which is under House Building Loan of HDFC Ltd. I had availed another loan in from Corporation Bank for a flat under a Cooperative Society, which is still under construction. Both banks provide me with EMI certificates every year. My father has passed away and my mum is a house wife, i am paying my sisters tuition fees in Gov College which is around one lac annually can i claim deduction?

I have taken an Fixed Depoit from SBH,during August ,for 66 months 5. I have not claimed excemption under 80C during financial year Can i claime excemption during ? I have query regards the fixed deposite for 5 year. First of all thanks for posting this article. Earlier concept was not appropriate. Because Service Tax amount is not income of assesse and TDS should be deducted from income. If an employee pay notice pay to his employer while resigning from the services, the amount of such pay should be deducted from his taxable income while computation of tax or not?

LIC Premium paid by my parents for me, i mean the LIC policy is on my name but installment is paid my parents. So in this case can i avail Tax rebate on this policy? After VRSI am getting pension and also now earning monthly consolidated pay on Contract basis from a Pvt Co. Even the pension is shown as consolidated amount in Pension.

In that case, pl advise how to assess my IT. Whether I have to show the entire amount as successful forex managed trading systems for calculating Tax. Is 5-Yr bank fixed deposits FDs made for dependants parents too can be accounted in Tax claim.?

Investment made anyoption trading recensione 5-year Tax Saver FD will get the income tax relief to the investor for FDs made out in his own name only i. In your case you have taken 5-yr Tax Saver Fixed Deposit in your dependant parents name from out of your income for which you will not get tax relief while accounting for your tax return. Such tax relief benefit is available to you only if you make investment in LIC schemes for your parents out of your income, but not in case of Tax Saving Bank FDRs.

Is a regular school teacher of non-gazetted rank working in Municipal Corporation of Delhi school, drawing salary in scale of pay of Rs with Basic Pay Rs and Grade Pay Rseligible to receive yearly Bonus or not? If eligible to get bonus, forex nicosia under what service rule. Pl help and guide me.

Please answer immediately, If an individual assessee pay the amount of life best buy sell stock signals premium as on The cheque cleared as on I am paying for LIC inthe name of my daughters children living abroad. Can I include the amount under 80c. I want to what is the cause of the stock market crash a grand parent can propose a policy to their grand child and will he eligible for 80c tax rebade.

Please let me know what is meant for education fees. Is it taxable whrn getting back the same after 5 year. I am getting per month a salary.

I am also paying in LIC of rs 28 thousand per annum. How much can i able to reduce the Income Tax from my salary using the LIC amount.

Can a stamp duty deduction be claimed on a house under construction and when there is a difference in the possession date of the house and the payment of the stamp duty? If i invest under p. During yearI have booked one flat. Can I claim deduction for payment of Stamp Duty, this f. Further, I had claimed deduction for payment of Stam Duty for purchase of earlier house in another city during Whether the life insurance premium paid by me for my dependent parents mother and father can be covered under section 80C of income tax?

I HAVE HOUSE WITH NAME OF MY MOTHER. A PERSON HAVE A HOUSE PROPERTY WHICH IS BY NAME OF HIS SPOUSE. SPOUSE IS NO INCOME AND LOAN REPAY BY INCOME OF HUSBAND. CAN HUSBAND CAN CLAIM DEDUCTION OF INTEREST AMOUNT UPTO RS.

TAXGURU DOES NOT REPLY! NOT EVEN ONE REPLY FOR THREE YEARS!!!! WAKE UP TAX GURU!!!! IF YOU CAHRGE ONE RE. PER REPLY ALSO YOU WOULD HAVE MADE LOT OF MONEY WITH INTEREST …. ALSO IF YOU INVEST IN PPF TAX FREE EARNING!!! TAX GURU ARE YOU THERE!!!! She is working as a teacher in mcd. Can I show the surplus of LIC premiums paid by my wife.

The life policies is also in her name. Can i claim rebat under 80C. As per current economic growth on every field I feel the exemption amount will be increases. I hope government take necessary action about this. Hello, Tai stock trading have purchased a flat in Nov, agreement was done in the same year in Forex qqe ea, I got possession in AugCan i claim tax benefit under 80c in stamp duty registration charges this year Hello, I have purchased a flat in Nov, agreement was done in the same year in December, I got possession in Aug forex trading entry rules, Can i claim stamp duty registration how much does a notary make in louisiana this year But what about the expenses more then this amount done on dependants?

Do we have any section where we can claim. Moreover, the bank has done a loan insurance is it acceptable under section 80C. I have been deposited Rs. Let me know please. I received arrears of medical reimbursement allowance from previous years. Against same, I have already incurred enough medical expenses in those years. Sir, I have purchased a land and get Housing Loan from SBI, Jaipur. I have taken home loan from SBI. To cover the loan repayment SBI have deducted SBI life insurance.

We have taken a Home lone of Rs. As per the New pension scheme NPSi wanted to know under which section i can apply for deduction. My father has taken home loan and i m co-borrower in that. Am i correct here?? This is also a part of my salary as mentioned in my offer letter.

Will this p. I want to know we have purchased an under construction house in a building can that be claimed under 80 c deduction.

I have bought a Insurance policy of Rs. If penny stock buyouts housing loan interest not shown while preparing form 16 due to some problems but the loan is already taken in the previous assessment then whether it will be taken into account when filing the income tax refund.

If mother is paying the insurance premium for daughter, can daughter claim the insurance premium paid as an exemption from her income. I have taken a home loan against a 3 bhk flat around 4 years back.

I bought this flat from builder in pre-launched. Since all the flats are not completed yet I am unable to remington 597 parts uk my flat. I wanted to know that is it really mandatory to have sale deed agreement in order to get income tax rebate on home loan. I have all documents except registered sale deed agreement i.

Sir I have one question. I have taken a Endowment Plus T. Can I get a deduction for the same within the limit of Rs ? I am planning to buy a residential PLOT.

HUF FIRM PAID PREM OF KARTA,S INSURANCE. But i have paid HRA pm. Then what will be my monthly income tax which will be deducted from my salary. For the financial yearyou are liable to pay I. You can invest upto Rs. T for the year I want to know the calculation. Will it be the whole Rs. I purchased icici pru tax growth on 30 march from icici bank, mira road, with clear instructions that i want this for fy, now they have completely disregarded my instructions and have given the units as of aprilthe clerk of icici bank says his CA friend says that i can claim deductions for fy as the cheque given to them is dated I need clarification for the same.

If their is only on child and his Tuition Fees paid Rs. Dear itsjiny, you can get extra exumption on Interest on House loan uptill Rs. If the income is around 4 lacs. What is the best investment under 80 C? Can I claim for Rs for myself and the rest for my wife income tax under 80C. My mother is not working. My father is working. Both my mother and i file separate income tax. If salary is statistical arbitrage with options only income you are earning then you are not required to file your income tax return.

Does Mortgage Loan comes under 80c for Tax Deduction. Dear sir, I have deposited Rs. I am PSU employee. Whether can I get the benefit of NSC purchased by me in the name of my wife in the F. Hi sir, I have a query regarding LIC policy payment through cheque. I have made a payment through cheque on 31st march and have got the premium receipt showing dated 31st march but the cheque was encashed by LIC on 7th April through my Saving bank Account. Will i be eligible to claim deduction under section 80C for the financial year ?

Thanks a lot for spreading your valuable knowledge. Y for the purpose of deduction under sec 80C, if not then from which financial year, i wiil waiting for the reply.

Can i avail the deduction in F. Ameritrade stock streamer have taken the housing loan for this house purchase the repayment has already started. Can I show this amount to the Form 16 A for the IT filling. If so, then please share the printed notification shared by the Income Tax Department.

I have purchase Falt in Jan, please tell me and i have paid Stam duty to govt. If I invest Rs. But sir, my parents are also living at rent and i am paying rent for his rents.

Can i save my income tax, please suggest. I claimed this amt as exemption under section 80 c. I claim this amount for deduction under 80 c. Will the interest to be added in next years income.

Please let us know the celing limit for LIC, Medical bills, Health Insurance, PPF, Housing loan, Infrastructure bond. Dear Sir, I want to claim tax on capital gains from sale of land through purchase of house.

Stamp duty charges for trades in Tamil Nadu doesn't have a upper limit? - General - Trading Q&A by Zerodha - All your queries on trading and markets answered

Is the saving applicable even when new asset is financed through loan or Parabolic movement stock market need to repay the loan from the proceeds of sold land to claim exemption. Also let me know how to claim exemption on record through I-T return filing.? Dear Sir, Kindly provide information about income tax exemption under section 80C or other sections for the amount paid on service tax 2.

Your expedited reply would be helpful to me. I am maintaining a D-mat account with my wife name. Forex bu nima I claim IT tax rebate on infrastructure bonds held in the name of my wife.

I am maintaining a D-mat account with my wife name as 1st holder. Can Adsense learn making money tips get income tax exemption on that investment.? My investment in 80 C has crossed the limit of 1 Lac. Stampa su forex torino I allow my wife to show the surplus of LIC premiums paid by me on my life policies as her investment to claim rebate under 80C.

Can I allow my to show the surplus LIC premiums paid by me on my life policies as her investment to claim rebate under 80C. Should I need to show more Investment so that tax may not get deducted. BOTH HUSBAND AND WIFE WORKING IN GOVT. WE TAKING HOUSING LOAN FROM H. Will I get Tax benefit on Stamp duty and Reg fees for this year under sec 80c if possession is after 1 year Next financial year? And Im also paying VAT and Service tax on property.

Are they also exempted. Are 5 years bank fixed deposite interest amount is taxable? If yes, the interest amount is calculated as income per year OR on maturity?

I have taken a housing loan which is in joint names of mine and my wife. My wife is also a working lady. The house property is also in joint names. I have purchased a flat in non municipal cooperation gram panchayat and have not taken loan from any bank. Can I claim it as housing loan payment under 80C. If yes what document do i need to submit to save TDS. The policy is on the name of wife.

But the name is before marriage name and contains the address same as of me? If yes what documents needs to be submitted. In respect of payment husband can claim the deduction. Supporting documents can be marriage certificate and your marriage invitation card. Dear Sir, Gretting for the day. A query regarding housing loan. If husband and wife both are working in private sector and come in tax. Housing loan had taken on the name of husband and wife.

But payment made by husband bank account. Interest component are above 2 lacks. Can husband and wife both take deduction on the interest component. For Application of Shorting stock buying put options Infrastructure Bonds 80CCF Contact — Amit Surpuriya — — Pune KSHITIJ FINANCIAL SERVICESMutual Fund Infrastructure Bond 54EC Capital Gain Bonds Company Fixed Deposit Medi-Claim. Hi, My father was expired and my mother is a housewife and i am paying LIC for her as she is dependent on me, can i take tax exemption by providing her LIC Receipts of her if yes is there any document i need to attach for that.

Me and my wife have taken a home loan. Also we have SBI Life Insurance SBI RINN Raksha for Funding of Home Loan Insurance Cover. Please advise can we claim exemption for paying the Premium amount. This coverage is paid against another loan by the same banker that of home loan. We are paying interest for the Insurance Loan. Can we get exemption for both the premium paid and the interest for the insurance loan? I am purchasing a site from BDA and shall pay registration charges and stamp duty of Rs 2 Lakhwill the amount paid for registration charges and stamp duty for site purchase extemted under section 80 CPlease advise.

Also we have SBI Life Insurance for Funding of Home Loan Insurance Cover. Please advise can claim exemption for paying the Premium amount. This is coverage is paid against another loan by the same banker that of home loan.

Hi can i show my husbands lic policy for tax deduction. As he is remitting each in 4 installments. Hi, can premium paid for a pension plan by father for major earning child qualify for deduction under section 80CCC. Hi It is mentioned stampduty for purchase of residential property can be claimed under 80C. Is that applicable for purchase of residential site KHB? Next need suggestions for best option which will help in tax saving as well as my parents and child. This certificate comes under 80c.

How much amount will deduction on If husband and wife both are working private sector and tds deducted of both. Will husband show the investment for tax exemption, if the investment as like LIC is on the name of his wife.

His wife will not show the investment in her organisation. Hi, I am paying ULIP in my spouse name. Can I show that for Income Tax Exemption? Infra Bond gives an additional deduction of Rs. With this the total deduction will be Rs. Kindly confirm that how many limit amount can be claim from Tution Fee for rebate under 1 lakh excemption. Recently i have bought a house,for which i had to pay 8 lacs and then remianing was loan from Bank.

Please let me know if the rs 8 lacs can have are binary option legal broker in usa benefit under section 80C.

WHICH FORM I HAVE TO FILL TO GET TEX deduction under Sec 80C AND WHERE I WILL GET THE FORM IT RETURN. Hey, I would like to know whether Education loan is consider in 80C or not? I am paying 60k p. Only the fee upaid to the institution will be allowed as deduction and that too such amt is to be for u, ur spouse or ur children. This loan mst be for higher studies of urs or melbourne central christmas trading hours 2016 spouse or ur children whether in India or abroad.

It is not eligible if payment is for urself or to ur spouse. Children can be ur legal children or even adopted children. Dear All, Pls tell bmo employee stock options whether i can avail tax exemption for stamps duty and registration charges for purchase of land.

If yes which section of the act. I have submitted may ppf withdraw from in my previous company virgin mobile ltd on feb 11 still it is pending as norms it takes sum 45 working days and I have spoken in virgin mobile they have told me that they have submitted the form in pf ninjatrader futures brokers on 28 mar but still it is pending.

You should go for any mutual fund scheme of UTI or any private company. Can you please clarify if Govt. I think ELSS should be placed higher in the list, particularly for young professionals who will prefer moderate-to high risk investments with much higher returns. FD, PPF are more logical to middle aged professionals. AS FAR AS THE DEDUCTION OF REPAYMENT OF PRINCIPAL OF HOUSING LOAN YOU SHOULD BE THE OWNER OR DEEMED OWNER OF THAT Pacific basin stock markets ON WHICH LOAN IS TAKEN AND THE PROPERTY SHOULD BE ONE WHICH CAN BE TAXED UNDER THE HEAD OF INCOME FROM HOUSE PROPERTY.

If I purchase a shop on loan basis will it be considered for getting deduction same as housing loan…. I am submitting the return online on form ITR1, but see no colum to claim this rebate section 24 b. Will you please suggest, if I have to deduct it from the total salary and then fill it, or there is some other way of doing it. Thanks, Kamaljit singh Professor. Management fee PCME subjects Rs College Fee Rs Corpus Fund Rs College Fee language Hindi Rs Total Rs Please sir would you kindly Reply me urgently THANKING YOU.

Buying stock in startup companies sum of all the annual premium turns out to be more then the sum insured. What are the rules for getting the tax rebate as someone suggested that for this policy under revised 5 000 forex accounts receivable as uncollectible rules for we cannot get tax rebate as the premium amount is more then the sum insured and some other kst trading strategies too.

Kindly fineco commissioni su forex and reply asap. Hi, I have invested in year for a plot for Rs. My query is that is interest income taxable and need to be added to my main salary or I can avail any depriciation. U can take Tax examption for the F. YES I AGREE WITH YOUR VIEWS………. OVER ALL LIMIT UNDER SEC C IS RS. Is there any chance to increase this limit?

I paid an insurance premium on March 29, and I did not claim that premium for FY Can I use that premium for 80C benefits this year, i. Sir— Can I claim short term capital loss on shares invest money online and earn weekly on delivery base, from my income of business and profession or from interest recd. SHORT TERM CAPITAL LOSS CAN BE SET OFF ONLY WITH INCOME UNDER THE Autochartist forex club OF CAPITAL GAIN AND NOT WITH THE INCOME UNDER OTHER HEADS OF INCOME.

HOWEVER LOSS UNDER OTHER HEADS OF INCOME CAN BE SET OFF WITH INCOME FROM CAPITAL GAIN. Take NSC for Rs. Sir, I am an NRI who plans to settle in India. I have Insurance policies in UAE and wish to continue to currency exchange aud to uk the premiums for the same even after settling in India?

How can I remit the payments towards premiums from india? Kindly advise the liability of Sevice Tax on Cargo handling service provided for estee lauder stock market product, which is providing to Singapore base Company.

My qus is how many amt i save to showing this donation. I have paid Life Insurance premium from my credit card account. Can my wife claim income tax exemption for this premium under 80C? NO YOUR WIFE CAN NOT CLAIM THE DEDUCTION OF SUCH LIC PAID BY YOU. BUT YOU CAN CLAIM THE DEDUCTION OF LIC PREMIUM PAID FOR WIFE. MEANS YOU CAN CLAIM THE DEDUCTION OF LIC PREMIUM PAID ON YOUR LIFE Uob foreign exchange rate history WELL AS ON LIFE OF YOUR WIFE AND CHILDREN.

If a tax payer is getting heigher education. ANY PERSON DEPENDENT UPON YOU CAN CLAIM EXEMPTION. IF YOUR BROTHER IS DEPENDENT ON YOU, YOU CAN CLAIM THE LIC.

I want to know that if I invest in this financial year say in ELSS. But from next year after new tax law ELSS are not exempted. Will the investement done in this year be eligible for tax exemption.

RAJESH YOU CAN NOT CLAIM THE DEDUCTION ON THE SAID SITUATION. SirI have taken a Bhima Bachat Policya single premium policy from LIC with the single premium of Rs.

So he allowed eur/usd live forex rate Rs.

I feel it is not as per rules. Dear Sir, I have a Unit link single premium pension plan, having complimentary SA of Rs. Now i have opportunity to pay unlimited top up in it. Ist propert — it in joint name me and my wife who is govt employee. I have take staff loan from my company and paying eniter emi.

My wife is not paying any amount towards loan repayment. But due to bank requirement, bank has made me co-applicant, however i am not co owner of 2nd house. Entire emi will be paid be paid by my wife throuth her salary account. Wanted to know whether persons living with HIV have any special tax rebate as that under 10i etc.? I have a query, If reverse stock split call options is dependant and studying.

Can her husband claim rebate on her tuition fees under section 80c. HOW MUCH REBATE WILL GOT. IF I HAVE 4 LIC POLICY. ME,MY HUSBAND AND MY 2 CHILD. To-let the house property to claim interest portion,if it is more than Rs Now i want to know make money with arbitron she pays her tution fee from her own account then whether she will be ekigible for 80 C.

Sir, I am presently working for government of India since Sep During my PG I took Education Loan of 1 lack and now i am repaying it through EMI of Rs from Dec So can I avail any Tax exemption in this regard …… please convey it to my E mail ID. If two person take the housing loan on combined basis so can both the person get the deduction under 80c and under section 24 on pro rate based.

You have mentioned Rs. However, you have not mentioned from which head the income has been earned. Further we assume that the income mentioned by you is earned for the year Having assumed as mentioned on the para 2, You should invest at least Rs. That will need an investment of something like 1L for me individually. Will that be counted in as an investment? My CA claimed Rs. Actually Stamp Duty Rs. Thereafter I will take the possession. Secondly, can I NIL rent for the shop as income.

I am a single parent female of twins age 5 yrs. Can you please advise me how I can save tax except tuition fees. I need the best way where I can earn maximum profit with less risk. Is it possible to save tax which has been already deducted this year from my salary?

These include PPF, NSC, FD for five yearsLIC premuim, Housing loan principle repayment, Certain Mutual Funds……. Investing in PPF, NSC and FDs will get you assured, however moderate, returns and further you no need to fear for the investment is being eroded. There are lock-in period for these investments. The Mutual fund scheme which yield high returns are normally invested in the equity funds and thus, needless to say, the amounts invested are exposed for being eroded. We assume that you are employed and give the forex rate dollar to euro history mentioned solutions.

My yearly income is 6lacs. I invest in PPF, Life Stamp duty for share trading in tamilnadu upto 1lack and 20thousand in infra bond and top of that have mediclame also.

My query is if how to earn extra money as an rn go for home loan and if my EMI is Rs18 thousand quick homemade acne remedies that work much will be i able to save more on income tax.

I have purchased a house which is under construction and hoping to get possession in coming yearI have paid stamp duty on novso can I claim this amount under 80C this year or the year when I get possession. They sya it should be claimed after possession of the house.

The question of claiming benefit AFTER possession of the property applies only to interest. The principal paid even during construction period including land registration charges can be claimed in the year of payment under Sec 80C. The relevant sub-section under Sec 80C reads as follows reconstructed for ease of understanding: In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the WHOLE OF THE AMOUNT PAID OR DEPOSITED IN THE PREVIOUS YEAR, being the aggregate of the sums referred to in sub-section 2as does not exceed one lakh rupees.

What it implies is that the payment, if is made towards a loan taken for any non-residential property, then it is not eligible under Sec 80C. Sir, I have taken a loan from HDFC in joint names me and mywife and i was pay the principal amount to the bank.

Bank was taken the payment through ECS on my account only. So please tell me about 1. Whether deduction under income tax act is available for leave encashment at the time of retirement? Repayment of housing loan but said housing property under construction than can i get 80 C benefit on repayment.

One of my friend told me that i can invest 20, over above one lakh under this section. Please inform me how i can purchase infrastructure bonds.

What is the minimum amount that I have to spend on this item. Dear Prabhakar, As per my view, Interest paid on preconstruction or under construction prop. I am salaried, my father is retired from govt. Can I show his LIC and bank Fixed deposit as exemption.

My personal income tax assessed from March to Feb. I paid my insurance premium during March. Call x26 put option am having a home loan for a flat purchase, which is under construction.

I have bank statement bank certificate from a nationalize Bank, having all priciple amount Rs. I have bank statement bank certificate from a nationalized Bank, having all priciple amount Rs. I want to do TimeDeposit for five years in the post office for my tax planning. I am a salaried person, during current year i have purchased a residenital vaccant plot, which i have planned to start construction during next year.

Whether i will be eligible for claiming the stamp paper and registration charges as deduction under section 80 C. Is Loan taken on site is eligible under sec 80c 2. The loan taken on site and house not constructed on this site.

Hi, If I myself is pursuing higher education Graduationin that case tuition fees paid by me in cash without any education loan comes under tax relaxation or not? I have 5 year tax saver FD. I opened it in year Can i show it every year tax exemption or do i need to open it every year.

Please tell whether i have to invest further to save my tax. My gross taxable income is 2. I had purcahsed home in Dec but I have not get the possesion yet so can I claim it for tax benefit under 80c for stamp duty and regeistration fee.

Yeah, you can encash but you may lost interest of this, FD can be discounted before maturity. I want to know if Stamp duty paid on purchase of Land can be considered under 80C?? In other words can this rebate be claimed for two units. WHAT IS THE LIMIT FOR EDUCATION FEE TO AVAIL INCOME TAX BENEFIT. IS THE PERSONAL TUTIONS FEES PAID TO COACHING CLASS CENTRE LAIBLE FOR TAX BENEFIT. I have a similar issue as yours. Did you get a solution to your problem?

Please let me know when you get to know anything about it. I just saw an article that if thee insurance coverage under a particular life insurance policy is less thaan 20 times the annual premium then the premium paid will not be tax free and any income generated out of this policy will also be taxable?

I have taken a loan of 1. Can i use this for my 80C deduction. I am paying lic premium and mediclaim premium of my father.

Is lic premium and medical primium of him granted to me as per 80c. Assume my total taxable income is 5. Respected Sir, 80C has the maximum limit of Rs. Over and above can we take 80D for further deduction of Rs. If Housing Loan is in both real brothers name, Can both claim full amount of Housing Loan Principle and Interest.

In this case both brothers want to claim the full principle and Interest amt. Suppose if our own residence under construction is in Vijaywada and iam residing in Secunderabad. Then am i not eligible to show the tax deduction for Home interest or principal repayment. And am i not eligible for the house rent for tax deduction. Eligible for Both or either of. Is there IT exemption for my daughter, who has paid Rs. If Housing Loan in both husband and wife name, is there any rule for claiming proportionate amount of Housing Loan Principle and Interest.

In this case husband want to claim more portion of the interest to save tax plse advice at early. I want to take new home on my wife name. Bank are ready to pay the lone to my wife.

I will be gurantor for her. EMI will deduct from my salary account. Because House is not in my name but i ampaying th EMI as gurantor. Me and my wife have recently purchased home, She is second party and i am the first party to purchase. I have paid Stamp duty and registration fees from her account via DD. I wish to know that can she claim the Registration fees and can i claim other part of stamp duty. I availed Deduction for the same. Hi Srinivasarao you can show your parents LIC premium amount for tax exemption under section 80C.

Post office senior citizens Savings Scheme: On maturity it can be extended for 3 years from the date of maturity. In such a case, kindly clarify whether whether the deposit extended will qualify for concession under C Regards K Venkatachari. If I Paid life Insurence premiums for my father and mother, they are dependent on me whether it is exmpted under section 80C. I am an IT professional. My father got a home loan and now i am paying the principle. Can this home loan is eligible for section 80C.

Can i get the tax exception for this in my income. I have paid 20, for my kids school as registration fee and administration fee to a trust. I have got the reciept also. Is this 20 thousands will come under 80c will i get tax excemption on this, please let me know. The bank people or the postal staff do not commit to the question of tax exemption in this scheme while canvassing for it.

I have invested Rs. My father is gvt employee. Bank is ready to give me home loan. PARVEEN GOYAL MANSA PB. Yours faithfully Shivani Joshi.

Recently in Nationalised Banks the retirees were given SECOND PENSION OPTION and for that they have to pay certain amount towards PENSION FUND GAP.

Whether this amount is exempted from income-tax? If yes then it is full amount or a limit? I think this information will be useful to entire community of bank retires opting for second pension option. Please write to meeven at: If Housing Loan in both husband and wife name, Can both claim proportionate amount of Housing Loan Principle and Interest.

In this case husband want to claim the portion of the principle and portion to wife. Can it be done in any nationalised Bank? Please advise if a NSC or a FD in my name would be valid for my husband to declare as savings under 80c. Recently i bought a Residential site sq yards at Kakinada. Now, i would like to know from you that: Is it Eligible for Sec 80c Exemption? If Yes pls let me know what is the Limit?

My mail ID is Kamesh. Is there any such Income Rules says so. Sir can u please tell me can i claim deduction in respect of rent paid by my father.

NCD Is under 80C or not.

Stock brokers get relief in Tamil Nadu stamp duty case - The Economic Times

I want to buy IDFC Infra Bond for Rs. Please tell me this amount can be claimed for rebate in income tax by me. I invested in LIC policy for my only grand son who is 8 years old for his education and his parents capacity. Am i eligible for deduction under 80C. How and what amount can be claimed as income tax benefit.

What amount can be claimed as deduction and calculate income tax on such income. I am staying in rented house chennai and getting HRA exception Under Sec 10 by submitting rent receipt.

So, can i get benefits of both HRA exemption Under Sec 10 and Housing Loan under sec 80c for Principal and Sec 24 for Interest? I want to purchase a house in the name of my wife to save stamps on registry. She is a house wife. I have applied for house loan from HDFC Bank, will I be eligible for tax rebate on house loan. I have purchased a residential plot jointly with my cusin.

I have sold the plot in same financial year. I took a Life Insurance Policy on my wifes name for which i am paying the premium as she is housewife and have no source of income. Will i get the benefit under section 80C of Income Tax Act. The property is in my dads name, now i am planning to take a home loan on that property for construction purpose. Are premia paid for critical illness covers of life insurance policies tax deductible under 80C or 80D any CBDT circular on this issue?

Can a person claim income tax benifit on the principle or interest amount of the Home Loan which is in the name of the spouse only?

My second question is can the investment made in the name of wife under section 80c can be clubbed with the investment made in the name of husband while submitting retun by husband. If yes then can I revise my return for the assessment year to add the earning from my saving bank account in the year My wife was paying premium for one of the LIC policy till last year and i wish to continue from this year onwards since she has resigned and decided to be a house wife.

The organization i work had stated they will not accept this premium for 80cc deduction on my income tax since it not on my name. Assessment year FYE 31st March 80 C Investment static at 1 lakh or hiked to 3 lakh. Hi, I have an LIC which is in my name. I have paid 4 quarterly installments in the financial year and I have claimed the amount for 3 installments under section 80C. I have got my form 16 as well. I would like to know whether my husband can claim the remaining amount for the 4th installment in his income tax return?

Thanks a lot for your time, Praseeda. For both the cases EMI had started. Shall I get tax benefit on Principal and Interest amount paid, for last F. My annual income is Rs. What are the best investments that I can have to save this amount?

How much do I have to invest as a whole or which investment gives me the best benefit to save this tax amount? I am an amateur in this field so kindly advice. Looking eagerly to hear from you soon.

If yes tan please guide me. I want 2 buy a underconstruction flat in noida which over all cost of I have booked a underconstruction flat in Sept in Mumbai and done stampduty, registration Rs.

Yeven though I have not received the possession? I have taken loan from my employer Govt. The property is not completed. Ihave taken loan in the FY Can I claim accrued interest on housing loan in my tax return i.

I have taken loan from my employer. Department where the principal is recovered first and then interest will be recovered. The property is under construction. Whether the accrued interest can be claimed under Income from house property in my tax returns for the assessment year Please let me know at the earliest.

Our building is recently got redevloped under 33 7. Society is of 17 members. THE LAND WAS PURCHASED IN AND HOUSE COMPLETED IN NOW I WANT TO SALE THE SAID HOUSE. I HAD TAKEN CLAIM OF 80 C FOR REPAYMENT OF HOUSING LOAN THROUGH OUT THE PERIOD. Dear Sir, I payed Rs 32, Is this amount liable for Income tax Deduction under Sec 80C? If yes, Do I need Tax Benefit Certificate for this amt seperately or the receipt is suffice. A has taken lic poicy and beneficiaries are his spouse and childrens an iF in a particular year if such premium is paid by his spouse Mrs.

A claim it under 80C? I am investing 1 lakh every yr under section 80c. I have leased a house for Rs. I am aware about Tax exemptions for rented house is based on actual rent paid or HRA. I need clarification on possible exemption on leased house and how much exemption can be claimed. I have also deposited 3lacs in the local bank for tenure of 2years. But it seems this kind of investment has a lock period of min 5 years. So can I change the tenure of my FD now from 2 to 5 years so that I can get tax benefit on this investment.

And if I want to withdraw this total amount before pre-mature how would it affect on interest rates. Please advide here too. I want to invest 2k everymonth in SIP-Mutual funds for about 3 years. SO can i get tax exemption on this kind of investments? Is there any limits on this investments. I have purchased a house in noida in by taking loan from my deptt in which i am residing. Now i have recently purchased a house in lucknow by taking loan from hdfc bank in which i am not residing.

I want to know whether i will get benefit on both the loan. Now the big qestion is weather IS there is any lock in period for the premium paid in the last two years for which i have allready benifit under sec.

I have paid Rs LIC premium in the month of april having due date in march Can I show this premium in the calender year ang get benifit. We will have to wait for passing of the bill. I have two housing loan. Cani claim the pricipal of both the loans under sec 80c. Today, I got a statement from ICICI Bank Housing Loan titled: Can anyone explain please? I wanted to inquire if it is possible for both me and my wife to claim tax benefits under HRA.

The property is rented out only in my name though. Is there any way possible we both can avail this? Dear Sir, i am having a tax benefi mutual fund, i want to know whether i would be getting tax benefit on sum received on maturity of that mutual fund,kindly explain. Sir, I am having shares in my trading account from the last more than one year and due to some misunderstanding by the broker, he sold my shares on one day and repurchased on the second day. Thereafter after months,if the same share gains by 50 rupees, and if I want to sell my shares, in that situation, whether I shall be entitled to the benefit of long term capital gain or have to pay the tax for short term capital gain for the mistake done by the broker.

I shall be highly obliged. Hello, I have booked a underconstruction flat in Feb in Navi Mumbai and done stampduty, registration 29th March My question isCan I show stampduty, registration amount in my next year IT i. Remaning 20L is from Housing Loan. My father 2nd holder and myself 1st holder sharing the housing loan. Can i able to claim Principle and interest. Also, if my monthly PF deduction is already 1, amounting to 17, for a year. In that case, i have to invest for the rest Will that be perfect to get an exemption upto 1Lac.

Plz suggest if you have any amendments for me for the above mentioned. I have availed a Housing Loan from Bank and purchased flat in my wife name and paid Rs.

My wife will not claiming exemption the said payment in her annual returns. Please let me know shall claim housing loan EMI and Interest under section C?. I have invested in ELSS Mutual Fund, the first holder being my wife who is a house wife with no income and I am the second holder.

Am I qulified for any deduction under sec. My dad is a retired person getting Govt. If sowhat is the maximum? I have a Life Insurance Policy of Bajaj Allianz Life Insurance Co. Now I want to Sell the units of said policy, so what will be Tax Implications. Can we both claim and share deduction for amount. I have retired from government service in May I have deposited sum of Rs. I have paid stamp duty and registration fee of Rs. Possession is expected in Feb Whether am I eligible to claim deduction of Rs.

I purchased a flat taking housing loan from LICHFL. I have made registration of the UDS undivided share of the land and paid Rs. I am paying EMI not P-EMI from the first day. I want to know about the taxability criteria of gift received in kind from non relative?

If i receive during a financial year after any gift of two immovable property of fmv each wound the entire amount will be taxable or the transaction would be regarded as single transaction and no amt would be taxable as each is less than RS ? Are grand parents eligable to claim under 80C if they are paying life insurance premium of grand childrens. Yes you are eligible to claim it.

Provided your daughter is not claiming the same from her income. If someone purchased a house in name of his wife through a house loan in joint name with his wife. Where wife is a house wife and have no source of income. Whether He will be eligible for thr income tax exemption. My query is my father took a home loan. There is 4 more years left in it and my father had retired, so the repayment is now made by me.

Am i eligible for tax deduction. But here u have to make clear firstly that whether you have started a new business of lease or u are having a old business of lease. Than only we can decide about claiming the deduction under 35D of the act. And as it is clearly evident from the section 35D which read as under.

Provided that the expenditure incurred, wholly and exclusively, for the purposes of any specified business, shall be allowed as deduction during the previous year in which he commences operations of his specified business, if— a the expenditure is incurred prior to the commencement of its operations; and b the amount is capitalised in the books of account of the assessee on the date of commencement of its operations.

And note also here that if you once claim deduction under this section than you will not be able to claim deduction under any other provisions of the act and in any other previous year. Deepak, The amount you pay as stamp duty when you buy a house, and the amount you pay for the registration of the documents of the house can be claimed as deduction under section 80C in the year of purchase of the house.

But make a note over here that it is subject to a maximum deduction of Rs. Please advise whether I can take the whole amount including service tax on Insurance premium payemnts for 80 C deduction? I woke up late to save tax. I have taken a house loan in the joint name of my wife and myself.

My wife is a house wife and have no source of income. Whether I am eligible for thr full tax exemption. Whether the life insurance premium paid by me for my dependent parents can be covered under section 80C. I and my husband are in higher tax income bracket.

We own 3 houses in the same city. If we buy another 2 properties in my father in laws name, will I get the tax benefit?

I want to purchase a flat in mid march. OR shall i wait till for the beginning of new financial year?? Hi sandeep, a 1 lakh amount can be claimed are Only stamp duty charges? Should I start paying Principal amount before getting possesion of flat i. Hi, I have buy Underconstruction flat in Feb. I have paid Stamp duty charges lacs.

I have deposited Rs. Can I claim deduction for the balance amount this year? The lock in period is 3 years for the ULIP. I have purchased a property on loan in the current year. The Deduction is available for any two children. Maximum deduction is Rs.

Dear sir my wife is taking education and i have submited fee for education. I had LIC policy under my name. WAITING FOR UR REFLY. Currently I have paid as principal amount for the housing loan. I was told that there is a limit of on principal amount repayed on housing loan for tax rebate sec 80C. So does it mean that I still have to show savings proofs for ? There is no such limit of in section 80C.

I have paid stamp duty for purchase of house property and it shows in Form 16 in last year I have to fill up ITR return which form i should fill up ITR I or ITR II. If you have housing loan too then you need to file ITR-2 otherwise you can file your return in ITR By mistake if investment under 80C exceeds the say upto 1,20, Will it be treated as fraud, even if amount claimed under 80C is limited to 1,00,? I am living in pune and paying a housing loan, My wife is staying in NasikCan I show Nasik rent and the hosuing loan both at one time, As my wife is dependent on me and I am paying her rent as well as housing loan both.

Principal component 26, Interest component 50, Pre-EMI interest 15, I have purchased a flat and availed loan jointly with my wife. Questions What relief will be available to me and to my wife under income tax for the above payments.

Whether the deposit made by the father in his major sons ppf account, will qualify the father, to claim income tax rebate on the same amount.?

Yes he will qualify. He only need to pay the same from his account. To claim deduction PPF receipt in the name of Son is good enough to satisfy Assessing Officer. I HAVE BOUGHT THE PROPERTY ON LOAN AND THE PROPERTY WILL BE READY IN 3 YEARS RIGHT NOW I AM LIVING IN RENTAL PROPERTY CAN I TAKE THE TAX EXEMPTION UNDER hra and under loan principal and intrest.

After completion of construction interest till the date of construction completion can be claimed equally in five Assessment years starting from the A. Also for the case of rebate, is there any need for a certificate proving dependency of my parents on me.

In reply to Mr Reddy above, it has been said that exemption for stamp duty applies only to residential property. I bought some land.

80C Deduction: Tax Deduction Under Section 80C and Tax Planning | TaxGuru

The registration charges went up to Will it be possible to show them under 80C tax savings?? However, as per information on this site, we can claim this amount under section 80C 1L limit so, what about rest of the amount I paid that is 1. I have a question. However, what kind of loss it is? In continuation to my earlier question, as in the book the word minor is mentioned so the officials are not allowing rebate on this account, please clarify the querry so that we can proceed further.

What is the maximum permissible exemption for Home Loan Principal payment? Will I get the complete 1,00, exemption or is there any clause? Recently, I understand that the upper limit of investment in PPF has been kiked inline with sec.

My income is purely from salary. But still there is some amount of tax payble. What more I should plan to reduce tax? Interest on home loan will be deducted under the head Income from House Property subject to a limit of Rs. Your email address will not be published. It seems you have Javascript disabled in your Browser. In order to submit a comment to this post, please write this code along with your comment: Income Tax Articles News Judiciary ITR PMGKY Deductions Section 80C Section 80D Section 80DD Section 80DDB Section 80EE Section 80EE Section 80G Section 80GG Tax Planning Notifications Circulars Instructions Orders Press Release Budget Budget Income Tax Articles News Notifications Service Tax Articles News Notifications Excise Duty Articles News Notifications Custom Duty Articles News Notifications Budget S.

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Law Articles News Judiciary Notifications CCI Notifications PPF Notifications. Income Tax Articles Featured. Deduction under section 80C and Tax Planning. Tax Provisions for Housing Finance Companies HFCs. Extension of ad-hoc appointments in the grade of JCIT. CBDT revises format of Form No. Articles Featured Home Loan 57 income tax act nsc 24 pension scheme 56 PPF 74 Section 80C Section 80CCC 12 Section 80CCF 34 Sukanya Samriddhi Account 27 tax benefit 17 Tax Exemption 51 Tax Planning March 24, at 1: March 1, at 1: February 21, at 4: Surender Singh Dagar says: February 16, at 4: February 14, at February 15, at 4: February 9, at 1: February 6, at 8: February 2, at CA Shubham Parasar says: January 11, at 1: January 10, at 4: December 23, at December 20, at 8: December 13, at December 1, at 7: GANDHI MOHAN BHARATI says: November 24, at 6: August 2, at 2: July 24, at 7: July 21, at 6: June 4, at April 23, at 4: June 13, at 4: April 16, at 7: April 12, at 8: May 2, at 5: March 20, at 7: March 31, at March 10, at March 8, at 4: March 4, at 2: March 3, at 5: February 25, at CA Bhargav Bhatt says: February 27, at 3: February 16, at 7: April 17, at 9: February 16, at February 6, at January 26, at 1: February 1, at 3: February 4, at 3: January 22, at 1: January 20, at 5: