Tax FAQ
 

Which Is Best Health Insurance Policy For Income Tax Saving In India?

Question by Rati J | Posted in Insurance

I am 29 years old . I yearning to take health insurance policy for my self & for my husband & child. The age of my husband is 30 & my Young man is 3 years old. I want to buy Health Insurance policy which assist me to save my Income Tax. Is there any action avilable which matches with my requirement?

Answer: I make up there is two aspects in your question. Now there is two types of health related insurance policies are accessible in India. one offered by general insurance companies and the other offered by life assurance companies. about the general insurance company policies i suggest the reliance heathwise gold procedure is more feature rich and competitively priced. the price is what you pay for it and also what you can deduct under medical indemnity policy premium. so u have to decide to pay more
 
 

Income Tax Saving From Two Different Housing Loans For Two Different Properties?

Question by sandeepagarwals | Posted in India

I have purchased a prairies in 2004 and i am claiming for rebate since then in my income tax for hosuing prinicipal and interest component. Recently in 2008 i purchased another fen with a new housing loan. Does the interest component of second flat also be considered for tax immunity including the earlier one?

Please clarify.

Thanks
Sandeep

Answer: Q-1). I have purchased a apace in 2004 and i am claiming for rebate since then in my income tax for hosuing prinicipal and interest component.

Ans: You are correct.

Q-2). Recently in 2008 i purchased another bedsitter with a new housing loan. Does the interest component of second flat also be considered for tax release including the earlier one?

Ans: Repayment of principle amount on both the houses are eligable for deduction u/s 80c discipline to Max limit

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Does Buying Home Help In Saving Income Tax?

Question by Abhishek S | Posted in Renting & Real Estate

In some countries, when you buy residence on loan, you can claim tax exemption in Income Tax for the amount paid towards EMI (or at least some part of it)...
Could you please let me know whether UK has any such benefit of buying adept in? Can I save income tax and get any other financial benefit for investing in this country?

Answer: The UK got rid of mortgage interest alto-rilievo 'high relief' about 20 years ago but your capital gain is tax free if this is your principal residence or your only abode in the UK and you do not rent it out.

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What Is The Best Way To Plan Income-Tax Saving In India For 2007-2008?

Question by D M K | Posted in India


Answer: Install 1 lakh in investments eligible as deduction u/s 80C. In this way you can save much of your tax depending on your tax slab.

http://www.rediff.com/getahead/2005/dec/ 26tax.htm

If you buy a prostitution or flat for residential purpose, then the interest you pay on that loan amount is eligible as deduction up to 1.5 lakhs per year. At the same spell the housing loan principal amount which you repay to the housing loan company is suitable as deduction up to 1 lakh

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What Does The Income Tax-tuition Saving Refund Act Do And Why Do People Want It Passed?

Question by | Posted in United States

People keep talking about this and I tried doing my own online scrutiny, but it's all too confusing. Can someone explain it to me?

Answer: The Conviction and LifeTime education credits were expanded
for one thing Hope has a two yr. limitation, the new has 4 yrs and in some cases it is realizable for a refund

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by bullbear

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