Total tax exemption
This query is : Resolved
26 February 2014
Hi,
In this financial year, I purchased a flat and paid a total stamp duty & registration of Rs.1,12,000. Also if I invest in NSC of Rs. 1,00,000. What is the maximum total tax benefit that I can claim in this year if I fall in the 2 lac- 5 lac tax bracket?
In this financial year, I purchased a flat and paid a total stamp duty & registration of Rs.1,12,000. Also if I invest in NSC of Rs. 1,00,000. What is the maximum total tax benefit that I can claim in this year if I fall in the 2 lac- 5 lac tax bracket?
CMA Ramesh Krishnan
(Expert)
26 February 2014
Overall maximum deduction u/s.80C is Rs. 1 Lakh only. so even if you deposit NSC also may be helpful for savings but not helpful for tax savings
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
