banner_ad

Comfused about savings

Tax queries 238 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
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details