13 July 2018
Hello Sir/Mam, I have home loan and paying PRINCIPAL / INTEREST as 84000/81000 and my taxable salary 630000 and then my 80c I filled 150000 , but even though I'm getting tax is around 7300 , So could you please help to reduce or nil this tax amount, Thank you very much for your assist. Regards, Partha
13 July 2018
Your taxable salary is Rs.63000/-.Your saving U/S 80-C including repayment of principal amount of Home Loan is Rs.150000/-.Your interest income U/S 24 will be -81000/-.Now your taxable income is now,630000/--150000/--81000/-II.E.Rs.379000/-.Tax on this income comes to Rs.6450/-.Differential amount you may claim as refund. Please,file your return before 31/07/2018.From next year BY SAVING Rs.50000/- in N.P.S,Yyou may further reduce your taxliability to the extent of Rs.2500/-
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