Interest Allowed But Not Principal Amount On Home Loan!

"I have taken housing loan in 1999 for Rs. 1.53 lacs and then addition loan of Rs. 3.50 lacs for addition to the same house and constructed first floor. Again I have taken one more housing loan and made slight modification to the same house. I repeat I have three housing...

Expense on Grandmother Is Also Allowed u/s 80DD

List of Mutual Funds For 80C Deduction!

"For AY 2007-08, what mutual funds are eligible for Sec 80 C?Your Email : colmitra@..........com The mutual funds eligible for 80C deduction are almost all the mutual funds which are recognized by SEBI. Section 80C under sun section [xiii] states as under "(xiii) as...

Coaching Institute Fee Is Not Allowable Deduction U/s 80C

The dos and don'ts of income-tax deductions

"Find the Deduction is a game with constantly shifting rules. Each year Congress changes something in the tax law, the Internal Revenue Service issues opinions, and tax courts make their rulings. If you like a challenge, learning this year's deduction options is like a game...

Principal Amount of Loan Allowed Even If Interest Is Not Allowed!

"Suppose, somebody is taking exemption on rent can he also be eligible on Housing Principal & Interest benefit? rajendra.panditrao@.................com Yes, the deduction u/ s 24 of the I T Act of Interest on borrowed fund for construction of house 1. which is self...

Interest & 80C Deductions Allowed to Non Residents Too!

"shankers_1999@......com Asked : I was NRI and working in DUBAI till Dec 14th 2007 ( Went to Dubai in 26th July 2003). Returned back to India on 15th Dec 2007 and joined an MNC here. I have 2 question for filing my Income tax return,( FY 2006-2007) * a) I am paying...

Tution Fee Upto Rs 1,00,000 Allowed as Deduction u/s 80C.

Deduction of Principal Allowed Even When Construction is not Completed!

No Deduction of Interest under section 80C.

Maximum Deduction of Expense on Cancer Patient is Rs 40000.

Deduction of Interest is Allowable for more than One Home.

Both HRA exemption and Interest Deducton Can Be Availed Simultaenously

Beware!Benefit stops on 1/4/2010 for 100 % Export oriented units u/s 10B-Part I

"Beware!Benefit stops on 1/4/2010 for 100 % Export oriented units u/s 10B-Part I Under Section 10B of the I T Act ,100 % export-oriented undertaking gets very substantial amount of exemption from tax on its profits for a period of 10 consecutive assessment years beginning...