tax saving tips
people whose gross salary in the bracket of 11-13 lpa, please share tax saving tips or any video resource. Recently joined 30% bracket. Can we claim tax for under construction property too??
Dezi Dean
Stealth
2 years ago
going to take 40 lkh loan this month
Then you can claim 1.5l in 80c for the principal repayment
And 2l in section 24b for the interest repayment each year
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Aaron Lee
Stealth
2 years ago
Well if you are taking a loan for a property which is under construction, i assume you will be paying only pre emi and your full emi will start after possession of property.
So till you are paying pre emi you can only claim interest paid as you have not paid any principal amount.
Also you can claim HRA, if the property you are buying and the house in which you are staying are in different cities.
You can also get deduction of upto 1.5 lakhs in ppf, life insurance etc upto 50K in NPS.
Similarly you can get deduction if you have purchased a mediclaim policy on our own.
Apart from that, any medical expenses for checkup and treatment which were not covered under your mediclaim you can get deduction on that as well. And similar deduction can be taken for your parents if your parents are dependent on you.
If you have kids you can claim deduction agains their education fees also.
You can go to incometax portal of government of india and under that portal go in tax calculator and in that check section deductions... You will get an idea what all you can claim.
