Tax liability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 October 2011 My total Income for the A.Y. 2011-12 is Rs. 617000/- . I have make investment of Rs. 85000/-in tax saving bond and I have paid instalments of home loan of Rs. 1,90,000/- (Rs.53000 as interest and Rs. 1,37,000/- as principal amount) during the A.Y. 2011-12 . How much amount can i claim under section 80 C. Please advise me.

CA Sreenivasa Rao Munaga

CA Sreenivasa Rao Munaga (Expert)
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04 October 2011 You can claim Rs.1,00,000/- Under Chapter VI-A.

Tax Saving Bond: 85,000
Housing Loan Repayment: 137000
Total:2,22,000

Max Limit Under 80C is Rs.1,00,000/-

Thanks,
CA M Sreenivasa Rao.