15 March 2011
sir, i m salaried person , first time want to return my file - my total income 132000 pa, and every yr i paid 18000 int on house loan (HOUSE UNDER MY MOTHER NAME), EVERY I PAID TOWARDS MONEY BACK POLICY OF RS--7000, PLS SUGGEST ME WHICH FORM APLLICABLE FOR ME, AND 18000 & 7000 CAN I SHOW ( IN 80C)
16 March 2011
Your total income is below the taxable limit so it is not compulsory for you to file return.if you want to file you can show LIC paid by you under section 80c but you can not take the benefit of Housing loan interest and principal as it is not in your name. In your case there is no tax so dont worry for the benefit.