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Budget 2012 updates: Income tax

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  • May 1, 2012 at 7:10 am #67428
    Anonymous
    Inactive

    This file will surely help our friends to have some clear conception about the recent updates regarding Income tax.
    Source: http://www.pankajbatra.com/finance/income-tax-calculator-2012-2013-2014/

    May 5, 2012 at 7:21 am #72328
    Anonymous
    Inactive

    Dear friend, I have read your pdf. about. Now my question:-
    1. A per U/S – 80C home loan principal amount repayment can claim for deduction. Have it any limit or not ?

    May 5, 2012 at 8:30 am #72331
    Anonymous
    Inactive

    As you know the maximum amount of deduction under section 80C is Rs. 1,00,000/-, you can avail the entire deduction as repayment of Home Loan principal amount. There is no certain limit in this regard as the aforesaid section itself stands with some limitation.

    May 5, 2012 at 4:05 pm #72332
    Anonymous
    Inactive

    Friend,
    I have seen in the ‘Saptahiki Bartaman” It will be maximum Rs. 30,000/-. Is it wrong? The said page attached here.With thanks.

    May 5, 2012 at 5:49 pm #72339
    Anonymous
    Inactive

    I have seen in the ‘Saptahiki Bartaman” It will be maximum Rs. 30,000/-. Is it wrong?

    I think so.
    Principal can be claimed up to the maximum of Rs. 100,000 under Section 80C. This is subject to the maximum level of Rs 100,000 across all 80C investments.

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