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?
CAclubindia
