Tax deduction on interest on residential house loan – Section 80EE

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 … Read More » "Tax deduction on interest on residential house loan – Section 80EE"

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 … Read More » "TDS from employee’s salary U/S 192 – Important points to remember"