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Sunil Kumar

Category : Income t..,
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July 13, 2018 5:50 pm
  • Income tax
HI Amlan,

I have few question regarding sch TDS 2 other source of income via interest. So my situation is like - I had one LIC policy that I took in year 2010 and maturity was in March 2018 but before that I broke the policy before maturity in Sep 2017. I paid the one time premium amount of 100000/- ...
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AYUSH
Hello sunil option 4, case 1 is correct but before that I recommend you to check your old itr of fy 2010. If you have claim that then option 1 if not you can opt for4 point option 2 and show in reporting as others amount exempt as 100000 deduction of 80c not claimed thereon. Rest bank interest will ...
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  • July 13, 2018
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Sumit Hedaoo

Category : 80EE - I..,
Solved
July 13, 2018 5:36 pm
  • 80EE - Interest on loan taken for residential House property
Hello Amlan,
i have purchased a under construction property in 2017. home loan started from April 2017 but possession in October 2018.
Can i file interest or principal for this property in current Assessment year? i am having a joint homeloan with my wife and last year i have paid interest of around...
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AYUSH
Hello sumit Section 80EE allows tax benefits for first time home buyers. Income tax deduction can be claimed on home loan interest towards your first house property. The deduction allowed under this section is for interest paid on home loan up to maximum Rs 50,000 per financial year. You can contin...
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  • July 13, 2018
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Amlan Dutta
Till the construction is complete , normal deduction benefit under section 24(b) till 2 lakhs wont be allowed ...so in the construction years , given you qualify for 80 EE , you can claim 50,000 rs and further 50,000 rs next year ( maximum eligible benefit is 1 lakh)....then wait till posession is g...
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  • July 14, 2018
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Murali Krishnan

Category : Demand u..,
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July 13, 2018 4:01 pm
  • Demand under section 143(1)a
Hello sir,

I filed my IT for AY 2016-17 on Feb 2018, but i mistakenly entered a wrong tax deducted amount against a particular Form-16 TAN (I have 2 Form-16 one from previous and current employer)

Now i received a demand notice asking to pay tax of 17,010.00 due to tax miscredit for that financial...
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Amlan Dutta
Basically, you had tax credit available to you but it was disallowed because of wrong amount claimed/ TAN .........In such case, you have to apply for rectification ...if system is not permitting for earlier previous year , go and meet the assessing officer ...also try E nivaran desk for raising a ...
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  • July 13, 2018
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rahul

Category : 80EE Eli..,
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July 13, 2018 3:19 pm
  • 80EE Eligibility
Hello Amlan,
For the 80EE we say the value should not be more than 50 lakhs and loan amount as 35 lakhs.
I have taken 35 lakhs loan and it sanctioned in November 2016 .
How do we calculate the value of the property ?What is the criteria to calculate that ?
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rahul
The sale deed is there for the plot purchased. That is for around 10 lakhs and the construction was done separately by the builder for which the loan was taken. I am not sure about the sale deed for the house constructed.
  • July 13, 2018
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rahul
this was constructed by us and how the sale deed comes into picture as this was not sold to us by anyone . but at the same time we have taken the loan for the house construction only.
  • July 13, 2018
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