One of the income tax consultatants has advised me that the loss from house property can not be set off against the income from salaries if it is rented out. He says this provison has been with drawn in 2007 – 08. He says if the property is rented out, the loss arising out of it can be set off only against income from other sources if any & not against income from salaries as i will be claiming HRA exemption for the house i have taken on rent for my stay.
I am working as Finance manager in Software Development Company, Please tell me the details to reduce tax exemptions on Salaries.
Is it that i need to open an NRI account to transfer the money from KSA to India or is it possible to send to my regular savings account ?
Sajid and laila were newly married have moved into the city recently. Both of them had got jobs in MNCs at very good salaries. they will working long hours from monday to saturday and to open a saving account. So what can be the solutio here?