banner_ad

Comfused about savings

Tax queries 239 views 1 replies

Hi,

         I am a private sector salaried employee. Recently i changed my job.In earlier organisation my CTC was 3.9lpa so just showing house rent recipts was not a problem from exemption of tax.

         In current organisation my CTC is 6.5lpa and I have fear that I could have to pay huge tax. And now I am planning to own a flat but for down payment of 20% i dont have any savings. I know that  banks provides 80% loan. 

        Therefore even from today onwards i start savings for 20% of flat amount how could i exempt     from tax.

        Well just take an example flat amount is 15lakh then i have to pay 3lakh and i can take 12lakh of loan from bank. Here for saving 3lakh it will take an year so how could i exempt from tax in that financial year?

 

Replies (1)
If u invest in tax savings scheme u wil get tax exemption...but der wil b min lock in period....further u won't get any tax benefit for down payment...


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details