Home buyer can get additional tax deduction up to Rs 50000 on interest on loan taken for residential house property if all the conditions of section 80EE are satisfied. As per the present tax laws, a home buyer can claim both interest and principal components of home loan repayment for tax benefit. Principal repayment of the home loan can be claimed under section 80C of … [Read more...] about Tax deduction on interest on residential house loan – Section 80EE
Archives for March 2017
TDS from employee’s salary U/S 192 – Important points to remember
As per Section 192 of Income Tax Act, any person responsible for paying any income chargeable under the head “Salaries” shall at the time of payment deduct income tax (TDS) on the amount payable at the average rate of income tax computed on the basis of rates in force for the financial year in which the payment is made, on the estimated income of the assessee under this head … [Read more...] about TDS from employee’s salary U/S 192 – Important points to remember