Govt has made enough money by lieving Educational cess and has deployed the money to good use like funding the buyout to keep the govt running. The policy makers should be taxed in places where the sun does not shine.
dear sir/mam, i am working for an MNC at mumbai. I am drawing an HRA of Rs 25000/ pm. I am paying a rent of Rs 35000/- pm for the flat i am living in. My salary is Rs 65000/- plus the HRA viz is total of 90000/- pm. i have acquired a flat at mumbai recently and purpose to give that on rent to help me pay my EMIs of Rs 22000/- pm. I plan to continue to live in my rented flat as it is close to my work place and my wife is not keen to leave the locality. could you kindly clarify that i can continue to enjoy the HRA benefits even when i now own a flat in mumbai, and as i have taken a loan to buy my own flat and will be giving it on rent, can i claim deductions for the full interest being paid for my loan. the interest component is likely to be over 240000/- for the first couple of years. request advice the best options available to me. regards and thanks surender
RE:RE:can some one advice me please
by fdgshdfs dfgsdgf on Aug 18, 2008 01:16 AM Permalink
Beta Suernder, Itna kama rahe ho to kuch kharcha pani bhi karo. Bahiti ganga me haat dhone ki aadat chodo aur Bisleri ki aadat dalo, warna paise doctor to he jayange.
RE:can some one advice me please
by roman on Aug 14, 2008 10:49 AM Permalink
Beta surender, pass some money this side. How can you ask such mind twisting questions. I think you must have been an hiring mistake
RE:can some one advice me please
by Indhea on Aug 24, 2008 10:04 AM Permalink
Hi Surendar, Yes you can continue to stay for rental and get your interest paid claim as loss of that property. Of course you have to show that rent as income and all other expenses including maintenance as expense. Self occupied house has maximum limit upto 1.5 lakhs at interest paid side, but rented house has no such bar. That is why Auditors advice you to leave for rental get tax exemption. It is legal and consult your auditor. You are not cheating government as you see few comments as reply for this request. Politicians, Government officials and criminals are looting Government money (our tax money), then why we've to leave our rights. Go ahead sir.
Can anyone throw light on this?How much interest from FDs of your fixed deposits are exempt from tax.If I get 50,000/-as interest from FDs in a year,should the full amount be added to my salary income ,to become the total taxable income?
RE:RE:Interest tax
by P.H. Gopalakrishnan on Aug 12, 2008 09:13 AM Permalink
FD interests are added to your Annual income and would be taxed in the tax bracket you fall under. Consider investing in FMP (Fixed Maturity plans) which would reduce tax and give better returns as of now.
RE:Interest tax
by SRAshutosh on Aug 17, 2008 08:37 PM Permalink
its very simple, every single penny of interest earned on a FD is your taxable income if you fall under tax slabs (after adding that interest amount in to your total income)
The latest income-tax form has been greatly simplified. It consists of only three parts: 1. How much did you make last year? 2. How much do you have left? 3. Send amount listed in part 2. -- Watch match, movies & 3000 plus TV channels on webmirchi.com
My Anual Income is Rs 45 lac. I have four member in my family Wife, Son and daughter. How can I save the Income tax after completing the limit of 1 lac under 80C.
RE:Income tax
by yournutshell on Aug 15, 2008 10:26 PM Permalink
is ur anual income is Rs45 lacs you will not posting messages here. How can u ask such stupid question if you are earning close Rs 3.75 lacs per month. You have no brains or what?
RE:Income tax
by gaurav jain on Aug 16, 2008 01:32 PM Permalink
boss !! your salary seems to be more than you deserve...you can give me the extra money that you earn. Sir ji, More Pay == more tax. Less Pay == less Tax. So why worry till the time you are earning GOOD and Huge
