My monthly net income is Rs. 25000.00 and i have no savings not yet, bcaz i paying my house loan and rent and also purchases two wheeler, can i show the these related documents for income tax return.
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Income tax
Replies (2)
hello Santosh,
As stated by you above, you are having a net income of Rs.3,00,000 and yes you can claim deduction in respect of house loan repayment u/s 80c upto Rs.100000 and rent paid u/s 80gg upto a maximum of Rs.24000. But purchasing two wheeler will not give you any benefit in income tax point of view.
Thanking You
Hello Santhosh,
You can add the details you have asked, and here is an app which makes things easier to find out the tax you need to pay
Thanks
https://play.google.com/store/apps/details?id=AppsLabz.IndianTax
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