Sunset period,latest update to avail income tax relief under section 80 IB for starting an industry in a industrially backward districts.
I am Govt employee in Gujarat-India and my son is suffuring from Thalassemia Major. I have about 10000/- to 15000/- monthly expense for his medical treatment. My Company is recovering IT on my reimbursement above 40000/-. Thalassemia is one type of blood disorder and there is no cure treatment. Pl guide me what should I have to do to get tax benifits.
I have purchased a house on Sept’07. And I’m paying EMI for it since Oct’07… But, am yet to take the possession of the house.
Moreover, the property is located in a different city and I’m working in a different city.
Can I claim tax benifit on the interest on the home loan I’m paying?
I want to purchase a Galla (Shop). At present I am getting tax benefit on my home loan but it will be over by next year. Hence I have planned to go for a shop as my wife runs a jewelery business at home. My question is can I get the same benefit in income tax for loan on galla as I am getting for my home loan at present?
1. Rent paid by me & for the
2. Loan repayment for property that I currentlly dont reside in.