In what way a person earning a salary of good amount or say above Rs. 15,00,000/- can save the tax @ 30% in his income.
Can he claim the full interest on house property if let-out...???
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Tax planning for salaries persons
Replies (3)
i think yes
Interest only upto Rs.150000 can claim by a individual. but he can save out of 30% taxable income
The limit of 150,000 is for house propery which is self occupied or deemed to be self occupied , for house property which is let out or deemed to be let out any amount paid as interest can be claimed as dedeuction . Also if a new loan (whole or any part of the loan which has been taken by the assesse subsequent to the capital borrowed ,for the purpose of repayment of such capital) is taken then interest thereon is also exempt but the assess should furnish a certificate from the person to whom any interest is payable on the amount borrowed.
80 ccf - ded. upto 20,000
https://www.simpletaxindia.org/2010/07/section-80ccf-infrastructure-bonds.html
Also check [NOTE: THE LINK IS OLD , CHECK FOR ANY CHANGES IN THE SECTIONS]
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