ITR filing
How are you guys filing ITR? I see I have to pay 19k in taxes. Any tips/suggestions to reduce or go about this?
linux
Advice needed for filing tax
I just started my first full time job and will be filing ITR for 1st time next year, no one in my family has been in high tax slab previously so not much experience from there :D
Some questions:
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Almost 50% of my base pay is getting used in paying EMIs (Mostly mortgage) of my family, nothing is on my name, all on father's name, is there a way to claim this in deduction ?
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We have our own house in a tier 3 city and I'm getting 30k/month as HRA, what will be safe HRA amount to claim ?
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Can we claim any other expenses in deduction ? Leave travel allowance seems useless to me as I'm working remotely.
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Which tax regime do you prefer ? New or old ?
I could have done investments to save taxes but nothing is left after all the expenses and nothing on my name 😛
16mo ago
ElonMast
Amazon16mo
No, you can’t claim any EMI benefits if loan isn’t on your name.
You’ve to show that you are paying rental to your father. 30k/m can be claimed but then your father’s PAN would be required. He has to show rental income in his ITR to be clean.
linux
Stealth16mo
Yeah I'm creating rental agreement on mother's name who doesn't have any other income, home is on her name only so makes it more easier 😅
HereWeGoAgain
Slice16mo
@linux Im in the same shoes, a clause states that we've to reside in the property for which we're claiming HRA, won't that be a problem?
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