RE:Deduction of children's tution fees
by praba kar on Feb 29, 2008 04:06 PM Permalink
yes, out of 1 lakh exemption u can show this 30k, for the remaining u have to show hra, home loans etc if u have.prabu,chennai
RE:Deduction of children's tution fees
by Anilkumar Kucheria on Feb 24, 2008 12:48 AM Permalink
Under 80-C, the total exemption is for Rs.1.00Lakh so if u paid 30K towards tuition fee, there still remains 70K for exemption. So, don't worry yaar, be happy.
I hope finance minister will bring a rule saying that from next financial year men and women will have the same tax benefit and the total tax exemption will be 2lakhs.
RE:SAME TAX FOR MEN AND WOMEN
by Anilkumar Kucheria on Feb 24, 2008 12:49 AM Permalink
Why the same tax slab for Men & women. Do u have any problem, Sir.
government should now reduce I Tax rates in all slabs by 500 percentage points and also increase tax free income to 2 lacs.Remove all stupid concessions and exemptions except for cahrity and donations to registered well audited socila welfare schemes and projects. The babudom and inspector Raj should be finished. It should be simple to calculate I tax in 5 mionutes and fill 3 blanks ,besides PAN numbre ,name and adress of tax payee and his orgnaisation.bring equality for men and women tax payeees.Stop allcaste,based and gender based disffernecs except for more than 30% disabled persons.
RE:RE:Government should reduce all I Tax rates by 5%
by asad hgjkf on Feb 08, 2008 01:33 PM Permalink
I guess u meant 500 basis points and not percentage points. Exemptions are what prompt Indians to save and buy insurance, so I don't think they are going anywhere.
RE:Government should reduce all I Tax rates by 5%
by Anilkumar Kucheria on Feb 24, 2008 12:53 AM Permalink
Guptaji, Next time, I want u to be the Minister of Finance for this country, Kyaa Baat Kahi Hai, wah wah....
What abt paying advance tax. Is that left for No. 11? You can do all this receipt collection stuff after April 1 also but forget to pay advance tax and you have to cough up penalty and interest.
What is the remedy available to the assessee if an employer/previous employer does not give Form 16/16A (certificate of deduction of TDS) well in time?
RE:Form 16
by surendra bhat on Feb 07, 2008 09:04 AM Permalink
you are supposed to have an exact idea of what your income is. Get your tax liability calculated by a tax consultant and file the return irrespective of whether or not u hv receved form 16. Remember, no documents need to be attached with the return and the same applies to form 16 also.
RBI MAY ISSUE A DIRECTIVE ON THIS ISSUE.IN WEST BENGAL NOTES ATTACHED WITH TAPE/TRACING PAPER IS NOT ACCEPTABLE.BUT IN OTHER STATES THE SAME NOTE IS VALID.
Can anyone tell me if Premium paid in ICICI LIFE TIME SUPER PENSION falls under any Rebate? If so, under which clause? If I own a house remaining locked, no loan claim, no rent or income from the house, is it necessary to make any Declaration?
If the house constuction is not completd but one employee is taken loan for that house it it eligible to get exemption under sec 80c pricipal component of the loan. If any body is able to solve this clarification???? Regards Venkat
RE:Tax clarification
by Tukarama Shetty on Feb 06, 2008 07:43 PM Permalink
80c is available for the component of principal in the EMIs repaid to the finance agency, only after the construction is complete and the certificate of completion is obtained from the relevant local government bodies. So if the house is not complete in this financial year, you cannot claim 80c. Further, loan repayment normally does not start before the completion of loan. What you may be paying to the bank/finance institurion is pre-EMI payments. This is purely interest. Deduction towards this pre-completion interest can be claimed after completion of the house in five yearly instalments.
RE:Tax clarification
by Its Me on Feb 06, 2008 07:16 PM Permalink
yes you can avail the benefit but in that case you cant show another rent reciept etc
RE:Tax clarification
by mohit sahu on Feb 06, 2008 07:45 PM Permalink
yes absolutely....you need to collect letter from the Bank asking for the Principal and interest componenet
RE:People who have money for them paying tax is probelm!!! for others earning money is problem...
by Its Me on Feb 06, 2008 07:19 PM Permalink
Cool, those who earn with sweat do have problem. But those who have the black money dont have to really worry
