I am salaried person and taken loan from my relative 200000/- from online transfer, Now I have to paid 30000 interest to my relative which is also through Online money transfer and my relative have less income so he can pay tax on this income and take refund the same by ITR.
So please Suggest how can I show in my ITR to reduce my Taxable income.please advice
I had taken this loan to bought a Plot but at the main time due to some dispute not buy the land and I had invested the loan amount in Share market on July onwards. I have invested 95000/- and on 31.03.2018 my share value as per CAS statement is Rs 83500/-.
So please Suggest how to reduce my Taxable income to save tax.
18 April 2018
Dear Rashmi ji, I am salaried person hereby my income is mainly Salary received from employer, Interest on saving Account of Approx Rs. 15000/-, Interest On FD Approx Rs. 10000/-, and approx RS 15000 income come through interest from freind for money given to him. I have invested RS 1.5 lac in under 80C & Rs50000 IN NPS & Rs 15000 in MedIclaim
So please Suggest how to reduce taxable income to save Tax.
CAclubindia
