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First claim deduction in 24(b) under Income from House Property Schedule upto maximum interest of ₹200000. For the remaining interest above 2 lakh, you can claim deduction u/s 80EEA only if Stamp Duty Value of house purchased is not more than 45 lakh & you haven't taken loan from NBFC (These...

Well i file ITR as a freelancer and i am a registered tax advisor and consultant. So, if you've any further doubts you can email me at my registered email id- sachanriya25@gmail.com

You must file income tax return of your mom by downloading 26AS. And prepare a rent agreement from between you and your mom to avoid any future notices under 143(1) from income tax department. Remember following points- Genuine rental agreement: A formal rental agreement is mandatory...

🚫ALERT🚫📢 IF RENT IS MORE THAN 50000 PER MONTH Many high paying resident individuals are paying rent of more than ₹50000 per month. Then you'll have to deduct TDS under section 194IB @ 5% and then pay remaining balance rental amount to your landlord. If PAN of landlord is not available then TDS...

Yes, infact while studying income tax I've found that teachers lack practical acumen while teaching students this subject who are not into CA.

Recently, I've started teaching Income tax and GST online to many students or professionals. This is my first teaching experience to anyone. At starting i was nervous but gradually and I used to think that i am a new finance freelancer or a young CA aspirants, how my level of knowledge will be...

🚫STOP THIS NOW! 📢🚫 To all the readers, here's a quick reminder to everyone . Nowadays, everyone will see ads of Dream 11, Rummy Circle, Pokerbaazi and other online gaming platforms. They lure young minds with hefty prize money or addictive games to play on daily basis by giving them joining...

Interest on FD is fully taxable. And you can claim exemption under section 80TTA of 10000 (50000 in case of senior citizen under section 80TTB). 80TTA/TTB covers claiming deduction of interest on FD, POST OFFICE, SAVING BANK ACCOUNT

And you copying my content😂😂😂 betaa copy karne se koi CA nahi ban jaaegaa bus CA k article hi reh jaaoge 😂😂😂.... Jaao maaf kiaa

But before getting lured for profits, remember that the profit will be taxed at flat 30% u/s 115BBH, and no loss will be set off from any income.

OLD TAX REGIME Salary 1100000 -Interest in house loan u/s 24b deduction maximum limit upto 200000 - Std deduction of 50000 - Deduction under Chapter VI-A 80 C - LIC/PPF/FD contribution/ Principal amt of home loan/Stamp duty value -maximum limit upto 150000 80CCD(2) - pension deduction towards...

This depends on the TDS deducted by your employer and how much tax you have to pay at the end of year. Though you'll be able to claim deduction of 200000. Eg- If your Salary is 700000 Other Special allowance is 300000 80C + 80CCD (2) deduction is 200000 Standard deduction 50000 Your net...

Yes you're absolutely correct but maximum deduction you can claim under 80GG is 5000 per month

Well, correction demands you, education loan interest deduction can be availed under 80E and not under 80D( which is for claiming medical insurance expenses). Second correction is that 80E isn't amended yet, the maximum ceiling of 8 years to claim interest of education loan is still applicable.

If you submit HRA information to finance department, it will update your FORM 16 and if you haven't submitted then also HRA exemption can be claimed in income tax portal while filing ITR-1.

Rookie members are just using copy paste from Chatgpt or google. So, please have a check on plagiarism

Well the facility of Post Office Monthly Income Scheme and SBI Annuity Deposit Scheme cannot be availed by an NRI. Only resident individuals can avail such options of Post office and SBI deposit scheme.

Well these facility cannot be availed by an NRI. Only resident individuals can avail such options of Post office and SBI deposit scheme.

Hello everyone, Since FY 23-24 coming to an end, have you planned your investments smartly? Many of my client come to me after the financial year ends or sometimes even on due date, and ask whether they can save taxes now? And saying them NO really disheartenes me. So, it's a gentle reminder to...

Lowest interest rate is in PNB starting from 4%, and later on when you've a job you can claim deduction of interest paid for 7 years.