Query for tax exemption
Querist : Anonymous
I M TAKING A LOAN OF 8 LAKH FROM LIC HOUSING FINANCE AND GOING TO A BUY A PLOT IN MY CITY ON MY MOTHERS NAME.IS THIS LOAN WILL HELP ME IN INCOME TAX SAVING. IF NOT THEN WHAT I CAN DO FOR INCOME TAX SAVING.PLEASE ANSWER ME OUT SOON SIR .
Querist : Anonymous
Is it mandatory to generate form 16 & issue to employee from Tin website by filing return ,though TDS is not deductible of the employee in Pvt. Ltd. company ?
f.y.2011.12
If no tds is deducted, then there is no need to issue form 16.
If the employer has not deducted tax, then he will not issue any Form 16 to u.
No TDS is deducted it is not compulsory to issue form 16, however employer can issue on his will.
Taking loan in the name of your mother will not help you claim deduction under income tax act, however if you want to purchase a house, you can take it in joint name with your mother.. in that case you can claim interest deduction under section 24 and principle repayment deduction under section 80 C of income tax Act.
Click here to login now
Similar Resolved Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
