Dear All,
This question may appear very basic to you, but I needed help, so I joined this forum for guidance.
I am a salaried software engineer in an MNC. I just purchased a property (December 2020) in Pune, Maharashtra. Till now I was living in a rented house. I wanted to know, how to submit my income tax proof to the company to save income tax.
Some parts of the stamp duty and registration charges are used for saving tax? I think I can submit them.
Can the down-payment for the property (10 lakhs) be submitted in the HRA for tax benefits? At present I have rent receipts, which is of a much less amount. If can submit the down payment under HRA, it might save a lot of tax.
My EMI will start in February, so only two EMI till March. That I can probably use for tax saving?
Anything else? Please guide me here. You can point to some Web resource as well, for guidance.
My knowledge for finance is next to zero.
Regards,
Satya
CAclubindia
