Hi,
I am working in a Pvt Company. I have few queries regarding Taxable Income.
I am repaying my education loan, Rs 42075 p.a. out of which Rs. 20175 is interest component. I am paying Rs 30000 p.a. as housing rent. Also my medical expenses will be Rs 5000 p.a.
I want to know the tax tratement to these items. Are Edu loan repayment and medical expense inculded under Investment of Rs 100000 under Chapter VIII or these items are separate than this investment.
Hi,
You can claim both interest and principle portion of your education loan. With regard to medical expenses, you are eligible to claim upto 15,000 in ayear.
Both education loan and medical exp. are not included in 1,00,000 savings amount.
I hope your question is answered.
Thanks,
Srinu
CAclubindia
