Hi Everybody, I am a 28 years old salaried govt. employee and my yearly salary is 5.5 Lac. As per my Tax bracket my employer deduct Tax every month from my salary. Now, i have some questions:- I have invested some amount in Mutual Fund. As per MF account statement /portfolio it shows:- (1) ICICI Focussed Bluechip Fund-Regular […]

I saw in on article in ET on 5th jan 2015 that ELSS investments are EET category. All along I was thinking that ELSS is EEE category. Please clarify.

Recently, I sold property worth more than 50 lakhs. The buyer deducted 1% and submitted the same with IT department, and gave the tax certificate to me. Now, my question is that, as a salaried professional, how can I get it adjusted with my company? Can I submit tax certificate as a proof to my […]

Hi Manish, First of all thanks a lot for coming up with JagoInvestor , It is a great source for guidance for freshers like me. I need one small help from you regarding HRA of Income Tax. I Have Worked In Two Organizations In F.Y. 2014-15. In First Company, I Have Worked From 01.04.2014 To […]

I purchased a house in June 2014 and my EMIs started from July 2014. I moved into the house in Dec 2014. Now, 1) Can I claim HRA from April 2014 to Nov 2014. 2) For the interest and principal portion of my EMI should I consider all EMIs or only the ones after Dec. […]

Hi, If I take possession on 15-Jan-2015, can I take the advantage of complete interest paid (with a cap of 2 Lacs) before this date but in the same financial year (between 01-Apr-2014 to 14-Jan-2015) under section 24 ? Or would it be like this a. Complete interest amount paid between 15-Jan and 31-Mar   […]

Purchased 2 (small) flats @12,50,000/-each in june 2012 with home loan of 10,00,000/- each. claimed 80C(principal, stamp duty) and section 24(interest) for both as self occupied and deem-let-out during last 2 years. Again purchased a (large) flat @35,00,000/- in july 2014 with home loan of 26,00,000/-; but before that i have fully repaid and closed […]

Dear Manish, I have my First property in my home town for which the loan is closed few years back and occupied by my parents(no rent received). Last year I have taken 2nd property at my work place which is under construction. When I will get it, i plan to stay in the 2nd house. Since […]

Hi, Wish you a very happy new year! I am dealing with a big hassle with income tax department at Hyderabad- Range 1. Despite my repeated request and personal meeting for last 4 years with the officers I am not able to get my refund back. The respective officer is creating numerous reasons ex: system […]

Hi, I own two houses, of which one is 2BHK owned from 2006 and the other is 3BHK bought in this year April 2014.  Until last year I was living in the 2BHK house and I was availing interest benefit of Rs.1.5 lakh for the same. This year I moved to 3 BHK house and […]