The acquisition or construction of the house should be completed within 5 years from the end of the FY in which the capital was borrowed.Further any prior period interest for the FYs upto the FY in which the property was acquired or constructed (as reduced by any part of interest allowed as deduction under any other section of the Act) shall be deducted in equal installments for the FY in question and subsequent four FYs.
Asalaam alaikum sir...... First of all i would like to thank u for ur videos which are very helpful..... I have some doubt n hope u will clarify it... Is the upper limit of deductions under section 80c n 80ccd in total as 1.5 lac or 2 lac i.e.1.5 for 80c n 0.50lac for 80ccd ..... Couldn't understand this
Aggregate deduction under sections 80C, 80CCC and 80CCD (1) shall not exceed Rs.1,50,000/-. The deduction allowed under section 80 CCD(1B) is an additional deduction in respect of an amount paid in the NPS up to Rs. 50,000/-.
Asalam u alaikum Respected sir, I read ur ebook regarding income tax Act, 1961,with recent amendments and it was obviously of definite help. Thanks sir for the same. Sir, I would like to request you to clarify my few doubts like 1. An employee recieves Child Education Allowance for this financial year. Does this come under head "salary", if so, can he claim exemption under section 80C as tuition fee of his child(one or both) 2.Sir, u hv not mentioned Section 89 Relief on income tax. Suppose an employee receives Or is going to receive Rs. 300000 as salary arrears which were due to the employee for 6 or 7 preceding years, how can he or she claim relief on income tax for these arrears. 3. In section 80EEB, Does Electric vehicle covers cars, bikes, or simply vehicles Thanks in anticipation Yours sincerely Employee on Education Deptt
For how many years intrest on housing loan can be claimed for tax exemption
The acquisition or construction of the house should be completed within 5 years from the end of the FY in which the capital was borrowed.Further any prior period interest for the FYs upto the FY in which the property was acquired or constructed (as reduced by any part of interest allowed as deduction under any other section of the Act) shall be deducted in equal installments for the FY in question and subsequent four FYs.
Thanks sir for the valuable information
Dr. saab is Honest, dedicated DTO of Anantnag.. sir you are doing a commendable job.. Allah bless you..
It's incomplete video.... Is there any connecting video,?
Extraordinary. Loved and learned alot
Nice
Welcome back sir after 2 months😍
Asalaam alaikum sir...... First of all i would like to thank u for ur videos which are very helpful..... I have some doubt n hope u will clarify it... Is the upper limit of deductions under section 80c n 80ccd in total as 1.5 lac or 2 lac i.e.1.5 for 80c n 0.50lac for 80ccd ..... Couldn't understand this
Aggregate deduction under sections 80C, 80CCC and 80CCD (1) shall not exceed Rs.1,50,000/-.
The deduction allowed under section 80 CCD(1B) is an additional deduction in respect of an amount paid
in the NPS up to Rs. 50,000/-.
Can we claim HRA under the new regime
No such exemptions are allowed under the concessional regime.
Asalam u alaikum
Respected sir,
I read ur ebook regarding income tax Act, 1961,with recent amendments and it was obviously of definite help. Thanks sir for the same.
Sir, I would like to request you to clarify my few doubts like
1. An employee recieves Child Education Allowance for this financial year. Does this come under head "salary", if so, can he claim exemption under section 80C as tuition fee of his child(one or both)
2.Sir, u hv not mentioned Section 89 Relief on income tax. Suppose an employee receives Or is going to receive Rs. 300000 as salary arrears which were due to the employee for 6 or 7 preceding years, how can he or she claim relief on income tax for these arrears.
3. In section 80EEB, Does Electric vehicle covers cars, bikes, or simply vehicles
Thanks in anticipation
Yours sincerely
Employee on Education Deptt
I think, it has been answered through a mail.