Hi ,
1. Need suggestions for saving money in FDs while taking benifits of tax exemption limit of 2.5 lakh for wife (housewife)?
2. Do you get interest in health insurance schemes?Are they similar to life insurance?Do they return principle and maturity amt after a certain period of time?
3. Does loss in shares and mutual funds before redemption provide any tax benifits?or loss /gain is caculated once shares are sold / mutual funds units are reedemed?
4. Can someone post sample itr for husband (salaried) and wife(housewife- has earnings from money transfered by husband to her acct and made cummulative FD for her).
5. Can wife help in reducing tax liabilty on husband's income?
Valuable suggestions are highly solicited...
Regards
Vishnu
1. Whenever direct gift is given to wife, it gets clubbed, so give it indirect way, eg. pin money, gift of jewelry, which she may en-cash next year etc. ...etc. That capital when invested in FD doesn't get clubbed.
2. No NO No
3. No Only on redemption.
4. For salaried person ITR 1, but if any capital gains ITR 2 For Housewife ITR 1 (Very much Generallized)
5. Y................E......................S
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