Investment in Residential House Property under Section 80C Tax saving through investing in house property is a best way where we can save tax by build wealth also .According to me under section 80 C no other elements is not so good as the investment in Residential house property because no other payments is increase […]
Tag Archives: Deduction under chapter vi
Deduction of medical insurance premium- section 80D Payment for Medical Insurance Premium under section 80D is allowed only to an individual (resident / non resident/ Indian citizen/ foreign citizen) or a Hindu undivided family (resident/ non resident).Note that medical insurance policy refers to mediclaim policies (where you submit bills and get re-imbursement). Fixed benefit policies […]
Tution/school/education fees under section 80C of IT Act Who is Eligible: Deduction for tuition fees u/s. 80c of the Income Tax Act 1961 is available to Individual Assesses and is not available to HUF. Maximum Child: Deduction under this section is available for tuition fees paid on two children’s education. If Assesses have more then […]
Q.1 who can claim deduction? Only Individual can claim deduction under section 80E. Q.2 what is Expenditure Qualified for deduction under section 80E? Interest paid on Loan. Loan should be taken: 1. for Study after Senior Secondary or its equivalent 2. From a Bank, Financial Institution or an Approved Charitable Institution Interest must be actually […]