1. i have taken gold loan of 300000/-. is there any chance of getting any rebate from IT on principal or interst of it. 2. i have taken refinance on my old car of rs. 200000/- is there any chance of income tax saving on this issue. 3. i purchased a piece of land, i paid the stamp duty of allmost 10000/- is it rebatable in any of rule of income tax. 4. what is the current slab of ITax for woman and man for the assesment of TDS made in mar 2013.
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Hello evry one
Replies (2)
1. interest cn b exempted if gold loan is used for business purpose.
2. interest cn b exempted if loan is used for business purpose.
3. when you sell the land, u can deduct selling expenses from your capital gain.
4. exempted slab rate for the men & women is Rs.2,00,000/-
How can U exempt an Expense..??
What can be exempt is only income and not Expneses..
Expeses are either deductable or not deductable
Here in the given Case, Interest on Gold loan is an Expense. So if Used for Business Purpose then can be deductable from Business Profit.
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