introduces new series of videos to empower
Do-It-Yourself
techniques for variety of topics related to taxation, business basics
and other compliances. Watch out this space and also catch us on
Youtube.
Check out this video if you are look to pay:
1. Income Tax
2. TDS payments
3. Advance Taxes for income tax
4. Any other Income tax payments
<iframe width="480" height="295" src="https://www.youtube.com/embed/0ZT1yjCxHTI" frameborder="0" allowfullscreen></iframe>
----------------------------------------------------
Main Steps:
1. Getting
DIN (Director Identification Number) for every proposed Director
2. Getting
Digital Signature for one of the Directors
3. Getting Name approved for proposed company
4. Incorporating the Business
Document Checklist
1. For DIN
- # Valid ID Proof:
- * PAN Card copy - Mandatory for Indian Citizens (Resident or NRI)
- * Passport Copy - Mandatory for Foreign Nationals (whether residing in India or not)
- # Address Proof - For the Current Address - should be latest (not older than 2 months) - Can be any of these:
- * Utility Bills like Telephone, Electricity, Gas, Water Bill etc.
- * Government ID & Address proofs like Driving License, Passport, Aadhar Card, Voters ID card, Ration Card etc.
- * Bank Statement (not credit card statement)
- # Indian Passport Size Colour Photograph (dimensions - 45mm High x 35mm wide)
- # DIN Affidavit & Declarations - to be supplied by eLagaan team
Notes: For NRIs & Foreigners (who is not residing in India) -
All documents needs to be Notarized from a Public Notary of the Country
where the person is residing. For Indian Citizens, a permanent address
proof of India is also needed (any document as per list above)
2. For Digital Signature
- # Valid ID Proof:
- * PAN Card copy - For Indian Citizens (Resident or NRI)
- * Passport Copy - Mandatory for Foreign Nationals (mandatory)
- # Address Proof - Latest (not older than 2 months) - Can be any of these:
- * Utility Bills like Telephone, Electricity, Gas, Water Bill etc.
- * Government ID & Address proofs like Driving License, Passport, Aadhar Card, Voters ID card, Ration Card etc.
- * Bank Statement (not credit card statement)
- # Indian Passport Size Colour Photograph (dimensions - 45mm High x 35mm wide)
- # Signed Digital Signature Application Form - to be supplied by eLagaan team
Notes: For NRIs & Foreigners (who is not residing in India) -
All documents needs to be Notarized from a Public Notary of the Country
where the person is residing.
3. For Company Incorporation
- # Subscriber sheets for Memorandum & Articles (MoA & AoA) - to be supplied by eLagaan Team
- # Address proof of the premises where the company shall be incorporated
- * Rental Agreement - Template can be obtained from eLagaan team
- * Any Government Document specifying details of the Premises Owners.
e.g. Electricity Bill, Municipal Tax paid receipt, Registered Sale Deed
etc.
- * No Objection Certificate (NOC) from the Premises owner to use the
premises for Company Incorporation - Template can be obtained from
<iframe width="560" height="315" src="https://www.youtube.com/embed/WAQs4SPJPYE" frameborder="0" allowfullscreen></iframe>
---------------------------------------------------
जब चाहो तब बेचो । जितना चाहो उतना बेचो । जिसको चाहो उसको बेचो । How to sell anything to anybody
http://youtu.be/U9EskgiErHo
http://youtu.be/-2m6JkJvv4w
------------------------------
And If my Income is 300000 p.a., so what tax I have to be
deposit,explain with the method of tax calculation in
detailed?
-------------ans
300000
-2,50,000
50000@of 10%
= answer is 5000
+ 2% education tax Rs. 280
+ 1% hig.education tax Rs.140
Total Amount=50420
------------------------------------------------------------
The following INCOME TAX RATES ARE applicable for the
Financial Year ending March 31, 2015
(Financial
Year 2014-15)-Assessment Year 2015-16):
Every year the income tax rates are changed and it is important to
get the latest income tax rates. We give below the Income Tax Rates and
Slabs
applicable for the FY 2014-15 or AY 2015-16.
|
Income Range
|
General (non-senior citizens) Category
|
Women (Below 60 years of age)
(This category is abolished from this year and is thus is same as that of
General Category
|
Senior Citizens (Men and Women above 60 years of age), but below 80 years
|
Very Senior Citizens (Men and Women above 80 years of age)
|
|
Upto Rs. 2,50,000
|
Nil
|
Nil
|
Nil
|
Nil
|
|
Rs. 2,50,001 to Rs. 3,00,000
|
10% *
|
10% *
|
Nil
|
Nil
|
|
Rs. 3,00,001 to Rs. 5,00,000
|
10% *
|
10% *
|
10% *
|
Nil
|
|
Rs. 5,00,001 to Rs. 10,00,000
|
20%
|
20%
|
20%
|
20%
|
|
Above Rs. 10,00,000
|
30% **
|
30% **
|
30% **
|
30%**
|
|
|
|
|
|
|
* A tax rebate of Rs 2,000 from tax calculated will be available for people
having an annual income upto Rs 5 lakh. However, this benefit of
Rs2,000 tax credit will not be available if you cross the income range of Rs 5
lakh. Thus we can say that tax payable in 10% slab will be maximum
Rs23,000 (taking into account Rs 2000 tax credit), but for people who fall in
income range of Rs5 lakh and above, the tax will be Rs25,000 + 20% tax on income
above Rs 5 lakh;
The education cess to continue at 3 percent.
** Surcharge of 10% will be payable, if income is above Rs 1 crore
Some Changes effected from
the FY 2014-15 (AY 2015-16)
·
Deduction limit on account of interest on loan in respect of self
occupied house property raised from Rs.1.5 lakh to Rs. 2 lakh.
-
PPersonal
Income-tax exemption limit raised by ` 50,000/- that is, from Rs. 2
lakh to Rs. 2.5 lakh in the case of individual taxpayers, below
the age of 60 years.
Important Rules for filing of
Tax Return
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1. Filing of income tax is compulsory for all individuals whose
gross annual income exceeds the maximum amount which is not charageble to income
tax (e.g. Rs.3,00,000 for Senior citizens, Rs.2,50,000/- for resident individuals
2. The last date for filing of income tax return is usually July
31 for individuals (sometimes the same is extended).
3. The penalty for non filing of income tax return is Rs.5,000/-
(1) Deductions from Taxable
Income (Section 80C) :-
VARIOUS INVESTMENTS OPTIONS
AVAILABLE TO INDIVIDUALS AND TAX BENEFITS AVAILABLE UNDER EACH OF THEM -
Financial Year 2013-14
A new section 80C was introduced (replacing section 88) from the financial year
2005-06. Under this Section, a deduction of upto Rs.1,50,000/- (wef FY
2014-15) is allowed
from Taxable Income in respect of the investments made in some specified
schemes. The schemes are similar as were available in Section
88 earlier. Now there are no sectoral caps and individuals can save in any
of the schemes upto Rs.1,50,000/- (now even in PPF it is allowed upto Rs. 150 lac
as against only Rs.1 lakh upto March 2014).. The tax payers can plan their investments / savings so
as to achieve their financial goals. The details of such schemes alongwith some major features of
each of these are given below : -
(last reviewed in
August , 2014)
| Saving Scheme |
Sec. under which Tax Benefit available |
Return |
Tax benefits for earnings (i.e. interest received / dividend received) |
Lock in Period
and other Remarks |
| National Saving Certificates - ( NSC scheme ) |
Section 80C |
8.50% for VIII Series 5 Year NSCs; and 8.80% for 10 year NSCs for FY 2014-15 |
Taxable
|
5 years (reduced wef Dec 2011 from 6
years to 5 years for new investments). The yield on these NSCs will
now be revised every year and will be 25 bps above the 5 year government bond yields |
| Equity Linked Savings Schemes (ELSS) |
Section 80C |
Varies from year to year (Market
linked) |
Dividend is tax free |
3 years |
| Life Insurance Policies |
Section 80C |
Varies from year to year |
Varies from scheme to scheme |
Varies from scheme to scheme |
| Unit Linked Insurance Plan (ULIP) |
Section 80C |
Varies from year to year |
Varies from scheme to scheme |
Varies from scheme to scheme
(15 to 20 years) |
| Infrastructure Bonds (NO
LONGER AVAILABLE FOR FRESH INVESTMENT) |
Section 80C |
Varies from issue to issue.
These were around 8%+ in Dec 2011. These have lost their charm
as Additional Tax rebate of Rs 20,000 is NOT given now from FY 2012-13
onwards. |
Taxable |
3 to 5 years |
| Contribution to EPF / GPF /
Voluntary PF |
Section 80C |
8.75% on EPF for 2013-14
(announced in August 201) |
Interest earned is tax free |
Till retirement (loans are
permitted only after 5 years) |
| Insurance Policies |
Section 80C |
6 to 7% only |
Earnings are tax free in most
of the cases |
Locked till maturity |
| ULIPS |
Section 80C |
Market linked |
Earnngs are tax free |
Partiail withdrawal allowed |
| Public Provident Fund (PPF) |
Section 80C |
8.70% for FY
2014-15 |
Interest
earned is tax free |
15 years and extendable.
Withdrawals allowed after 7 years. Yield on PPF will vary and will be
fixed at 25 basis point above the 10 year government bonds. |
| NPS |
Section 80C |
Market Linked |
Interest earned is tax free |
Withdrawal not permitted
before maturity |
| Tuition Fees including
admission fees or college fees paid for full time education of any two
children of the assessee. |
Section 80C |
Not applicable |
Not applicable |
Not applicable |
| Repayment of Housing Loan
(Principal) |
Section 80C |
Not applicable |
Not applicable |
Not applicable |
| Bank Fixed Deposits - 5 Years |
Section 80C |
Varies from bank to bank (around 8.00%
- 9.00%) |
Taxable |
5 Years |
|
Senior Citizens Savings Scheme 2004 (from financial year 2007-08) |
Section 80C |
9.20% for FY 2014-15 |
Taxable |
As per the guidelines issued
in December 2011, there will be spread of 100 basis points above the 5 year
bonds yields for this scheme. |
|
Post Office Time Deposit Account (from financial 2007-08) |
Section 80C |
|
|
|
| |
PS Note : Now some of the above
investments (like PPF and 5 Year Senior Citizens Saving Schemes etc.)
are linked to the benchmark of 10 year / 5 Year government bond yields, and
thus the return on these investments will vary as and when the yield
on government bonds changes. Therefore, now remember
that you will not have fixed rate of return on these investments.
On the other hand, for other Small Saving schemes GoI will advise before 1st
April every year, the rates applicable for those schemes for the next FY.
Such instruments will continue to have same return for the whole tenure of the
investment. [For clarification see below the notification which is self
explanatory]
(1) Deductions Under Section 80CCC(1) :
Under this section, the contributions by individuals towards "Pension" schemes
of LIC or any other Insurance company, is allowed as deduction of Rs.10,000/-.
However, as provided under section 80CCE, the aggregate deduction u/s 80C, and
u/s 80CCC and 80CCD can not exceed Rs.1,50,000/-.
Thus effectively, now
these are covered under the maximum limit of Rs.1,50,000/- under section
80C.
(2) Deductions Under Section 80 D :
- Basic Deduction under Section 80D,
Mediclaim premium paid
for Self, Spouse or dependant children
is allowed upto Rs 15,000. In case
any of the persons specified above is a senior
citizen (i.e. 65 years or more as of end of the
year) and Mediclaim insurance premium is also
paid for such senior citizen, deduction amount
is enhanced to Rs. 20,000.
- Additional deduction:
Mediclaim premium paid for
parents. Maximum deduction Rs 15,000.
In case any of the parents covered by the
Mediclaim policy is a senior citizen, deduction
amount is enhanced to Rs. 20,000.
Thus, in a net shell
we can say that health insurance premium that you pay for
yourself, your dependents (spouse and children) and your parents,
are all considered for tax benefit under Section 80D of the Income
Tax Act 1961.
Therefore, you can claim
a deduction up to Rs.30000 on your taxable income, and if your
parents are senior citizens, the deductible amount goes up to
Rs.35000.
However, there are a few conditions:
-
You
can not claim tax benefit on health insurance premium paid for
your in-laws;
-
Proof of payment of premium has to be furnished, in order to
avail the tax benefit
-
The
health insurance premium must be paid from taxable income of
that year only if you want to claim a deduction.
Thus, if one has paid the premium from ones savings or from
gifts of money received, then one is not eligible for tax
benefits under this section.
However, you have to remember that the
premium paid by any mode of other than cash is eligible. Note prior to 1st
April 2009, premium payment was required to be paid only by cheque. However,
now even the payments through Credit card or other on line mechanism are
allowed. Thus, now all payment modes except cash payment are accepted
(3) Deductions Under Section 80 E :
Under this section, deduction is available for payment of interest on a loan
taken for higher education from any financial institution or an approved
charitable institution. The loan should be taken for either pursuing a full-time
graduate or post-graduate course in engineering, medicine or management, or a
post-graduate course in applied science or pure science.
The deduction is available for the first year when the interest is paid and for
the subsequent seven years.
(4) Deductions Under Section 24(b) :
Under this section,
interest on borrowed capital for the purpose of house
purchase or construction is deductible from taxable income upto Rs.2,00,000/- is
deductible from income. (certain conditions are to be fulfilled)
PS : 1A)
Section 80CCF : Infrastructure Bonds
: (NOT PERMITTED FROM FY 2012-13)
onwards) :
Section 80CCF allowed you to invest an
additional Rs. 20,000 in infrastructure
bonds, and such an investment was
reduced from your taxable income in addition
to the Rs.100,000 deduction you get from the
other instruments listed above.
You were to get the
tax benefit only in
the year in which
you have invested in
these instruments.
NOW THIS IS NOT ALLOWED
TAX FREE INCOMES :
Some of the incomes are completely exempted from income tax and that too
without any upper limit. The following incomes which are tax free :-
(a) Interest on EPF / GPF / PPF
(b) Interest on GOI Tax Free Bonds / Tax Free Bonds issued with specific
stipulation to this effect
(c) Dividends on Shares and Mutual Funds. Dividend income from
companies / Equity Oriented Mutual funds is completely exempt in the hands of
investors. Dividend is also tax free in the hands of investors in case of
debt-oriented Mutual Fund schemes. (However, the Asset Management Company
is liable to deduct 22.44% distribution tax in case of non individuals / non HUF
investors and 14.025% in case of individuals or HUF investors.)
(d) Capital receipts from Life Insurance policies i.e. sums received either
on death of the insured or on maturity of Life insurance plans. However,
in case of life insurance policies issued after March 31, 2004, exemption on
maturity payment u/s 10(10D) is available only if premium paid in any year does
not exceed 20% of the sum asssured;
e) Interest on Saving Bank accounts in banks upto Rs10,000/- per year (from
FY 2012-13)
(f) Long term capial gains on sale of shares and equity mutual funds after
01/10/2004, if security transaction is paid / imposed on such transactions.
GIFT TAX :
Gift tax was abolished with effect from October 1, 1998. The gifts are
no longer taxable in the hands of donor or donee. However, w.e.f.
September 1, 2004, any gift received by an individual or HUF will be included in
taxable income, if the amount of tax exceeds Rs.25,000/-. However,
gifts received from any of the following will continue to remain tax free :-
(i) Spouse;
(ii) Brother or sister;
(iii) Brother or sister of the spouse;
(iv) Brother or sister of either of the parents of the individual;
(v) Any lineal ascendant or descendant of the individual
(vi) Any lineal ascendant or descendant of the spouse of the individual
(vii) spouse of the person referred to in (2) or (6) or received on the
occasion of marriage or under a will by way of inheritance
Capital Gains :
Capital gains arise when an individual sells at a profit
certain assets like property or shares or mutual funds or bonds etc
The treatment of such income is not the same as income from other
sources. There are two types of capital gains, viz
Short Term Capital Gains or Long Term Capital Gains.
(a) Short Term Capital Gains :
Capital gain is considered as Short Term Capital Gain, if immovable
property is sold / transferred within three years of acquiring the same.
Similarly, if shares or other financial securities such as mutual funds
are sold within one year of purchase, the profit earned is treated as
Short Term Capital Gain.
Short term capital gain is included in the gross taxable income and
normal tax rates are applicable. However, w.e.f. 1st October,
2004, the short term capital gains from sale of equity shares or units
of equity oriented mutual fund schemes are taxed only at a flat rate of
10%, irrespective of the tax slab on other sources of income, provided
securities transaction tax is paid on such sale.
(b) Long Term Capital Gains : Capital
gain is considered as the Long Term, if the immovable property is sold
after three years from purchse, or financial securties such as shares,
deep discount bonds, units of open ended or close ended schemes of
mutaula funds are disposed (i.e. sold / redeemed / transferred) after
holding the same for more than twelve months, then the gain is
considered to be long term capital gain.
Long term capital gains on transfer of listed shares / units of
equity oriented mutual funds schemes has been exempted from tax w.e.f.
1st October, 2004, provided securities transaction tax has been paid on
such sale. For assets other than the listed shares / units of
mutual funds schemes, tax is payable in respect of long term capital
gains at a flat rate of 20% and the amount of gain has to be adjusted
for inflation through indexation benefit.
Long term capital gains tax in respect of bonds and debt securities
or debt oriented mutual fund schemes listed on stock exchanges is
payable at a flat rate of 10% of the capital gains amount. In case an
individual wishes to avail the benefits of indexation, then tax has to
be paid at normal long term capital gains tax rate of 20%.
|
|
|
Section 54EC of the I-T Act, 1961 : Relief
from Capital Gains Tax
You can make good use of this Section to save Taxes
specially when you sell some property. The Income Tax laws
provides for taxes on long-term capital gains at 20 per cent for individuals
and foreign firms and 30 per cent for domestic companies. However, Section
54EC of the I-T Act, 1961, provides relief from capital gains tax.
Under this Section, gains on transfer of a long-term capital asset can be
exempted from tax if the money is invested in bonds of specified
institutions such as NABARD, the Rural Electrification Corporation (REC),
SIDBI or the National Highway Authority of India. Such bonds are
redeemable after three years. However, to save tax, you have
to invest in these bonds within six months from the date of transfer of the
original asset. Thus investing in these bonds will effectively mean
that your money is locked in for three years. If you want to buy a new
property one or two years after transferring the original asset, you will
have to either wait or look for alternative funds. After the
lock-in period or on the maturity of the bonds, the investor is free to put
in his money in any kind of asset. However, the interest on the
bond is taxable.
On the other hand, State Bank of India, offers SBI
Capgains Plus Scheme where lock-in period is absent, a slightly higher
interest rate compared to the capital gain tax saving bonds is offered.
The proceeds of the sale of the capital asset can be parked in the fixed
deposit scheme under the Capgains Plus plan at an interest rate marginally
higher than what bonds under Section 54 EC would fetch. The interest earned
will be taxed at prevailing rates. However, unlike the bonds under 54
EC, the depositor cannot put the money in a different kind of asset. The
plan stipulates that re-investment should be made on the specified asset
only. Therefore, this scheme is a boon for people who have sold
their property but haven't been able to purchase the property within the
stipulated period. Once a final decision is taken on
the property you want to reinvest in, you can opt for an exit from SBI Plan,
but you will need to get a certificate of consent from the assessment
officer.
|
*******
Latest Circulars Regarding Rate of
Interest on Small Savings etc.
RBI CIRCULAR FOR
RATE OF INTEREST ON PPF and SCSS 2004 Schemes
RBI/2013-14/526
DGBA.CDD. No. 5342 /15.02.001/2013-14
March 21, 2014
Madam/Dear Sir,
Public Provident Fund Scheme, 1968 (PPF Scheme, 1968) and
Senior Citizens Savings Scheme, 2004 (SCSS, 2004) - Revision of interest rates
The Government of India has now vide their Office Memorandum (OM) No.
6-1/2011-NS.II dated 4th March 2014, advised the rate of interest on various
small savings schemes for the financial year 2014-15. Accordingly, the rates of
interest on PPF, 1968 and SCSS, 2004 for the financial year 2014-15, effective
from April 01, 2014, on the basis of the interest compounding/payment built-in
in the schemes, will be as under:
|
Scheme
|
Rate of Interest w.e.f.
01.04.2013
|
Rate of Interest w.e.f.
01.04.2014
|
|
5 Year SCSS, 2004
|
9.2% p.a.
|
9.20% p.a.
|
|
PPF, 1968
|
8.7% p.a.
|
8.70% p.a.
|
Revision of Interest Rates for Small Savings Schemes for the Financial Year
2014-15 Announced
Various decisions taken by the Government of India on the
recommendations of the Shyamala Gopinath Committee for Comprehensive Review
of National Small Savings Fund (NSSF), were communicated to all concerned by
the Government through its Office Memorandum dated 11th November,
2011.
One of the decisions of the Government based on the
recommendations of the Committee relates to revision of interest rates every
financial year, to be notified before 1st April
of that year. Accordingly with the approval of the Finance Minister, the
rates of interest on various small savings schemes for the Financial Year
2014-15 effective from 01.04.2014, on the basis of the interest
compounding/payment built-in in the schemes, shall be as under :
|
Scheme
|
Old Rate of interest
w.e.f.01.04.2013
|
Rate of Interest
w.e.f. 01.04.2014
|
|
1.
|
2.
|
3.
|
|
Savings Deposit
|
4.0
|
4.00
|
|
1 Year Time Deposit
|
8.2
|
8.40
|
|
2 Year Time Deposit
|
8.2
|
8.40
|
|
3 Year Time Deposit
|
8.3
|
8.40
|
|
5 Year Time Deposit
|
8.4
|
8.50
|
|
5 Year Recurring
Deposit
|
8.3
|
8.40
|
|
5 Year SCSS
|
9.2
|
9.20
|
|
5 Year MIS
|
8.4
|
8.40
|
|
5 Year NSC
|
8.5
|
8.50
|
|
10 Year NSC
|
8.8
|
8.80
|
|
PPF
|
8.7
|
8.70
|
-----------------------
http://taxguru.in/income-tax/all-about-deduction-under-section-80c-and-tax-planning.html
----------------------------
How much income tax can you save, if you take a home loan ?
How much income tax can be saved depends on your income. If you are
having more than 5 lakhs income, then you can save more (than your
income with less than 5 lakhs).
Tax benifits from home loan:
1. On repayment of home loan principle amount (through EMI). If you
repay home loan principle amount, then it is a deduction u/s 80C up to 1
lakh per financial year. (Self occupied or for the house given on rent)
2. The interest paid on home loan is allowed as deduction u/s 24 up to
1.5 lakhs per year if the house is a self occupied one.
3. On the other hand, if the house is given on rent, then the entire
interest paid in that financial year will be eligable for deduction.
But you have to pay tax on rental income.
Example tax calculation for self occupied house:
8,00,000 *Your income in the FY: 8,00,000
1,00,000 *Home loan principle in FY: 1,25,000 (Max.1 lakh)
1,50,000 *Home loan int. in FY: 2,00,000 (Max Rs.1.5 lakhs)
-------------
5,50,000 net taxable at slab rates:
Tax Calcu. for MALE -Tax free Amt. Rs.110000FY:07-08
550,000 = Net Total income taxable as per slab rates
=======
000,000 = Tax @ 0% On TAX FREE Amt. Rs. 110,000
004,000 = Tax @10%: 1.1 to 1.5 lakhs on Rs. 040,000
020,000 = Tax @20%: 1.5 to 2.5 lakhs on Rs. 100,000
090,000 = Tax @30%: On > 2.5 Lakhs on Rs. 300,000
-------------
114,000 = TAX PAYABLE on net Income Rs. 550,000
003,420 = ADD: Edu. cess @ 3% on tax Rs. 114,000
-------------
117,420 = Net Total Tax Payable. (with home loan benifits)
=======
If you have no savings from home loan, then your tax will be:
Tax Calcu. for MALE -Tax free Amt. Rs.110000FY:07-08
800,000 = Gross Total Income (Taxable At Slab Rates)
000,000 = LESS: Deductions U/Chapter IV-A (80C Etc.,)
-------------
800,000 = Net Total income taxable as per slab rates
=======
000,000 = Tax @ 0% On TAX FREE Amt. Rs. 110,000
004,000 = Tax @10%: 1.1 to 1.5 lakhs on Rs. 040,000
020,000 = Tax @20%: 1.5 to 2.5 lakhs on Rs. 100,000
165,000 = Tax @30%: On > 2.5 Lakhs on Rs. 550,000
-------------
189,000 = TAX PAYABLE on net Income Rs. 800,000
005,670 = ADD: Edu. cess @ 3% on tax Rs. 189,000
-------------
194,670 = Net Total Tax Payable. (without home loan)
=======
Net Saving: 194670-117,420 = Rs. 77,250
. If you
have exhausted all your limits for saving tax then by taking home loan
you can reduce your taxable income by 1.5 lacs on account of interest
paid on the principal amount. Morever if you don't have other
investements like LIC , PPF , PF etc then you can also get the benefit
under section 80C for the principal amount paid by you during a
financial year.
.maximum
30.90 % on interest on housing loan up to Rs. 150000. means tax saving
of Rs. 46350/- if yr salary is less than Rs10 lacs per annum
