various expenses to show – while filing IT returns in india?

what were the various deductions and expenses that we could take while filing IT returns to get a
can i show expenses on house maintenance, property tax, petrol bills, travel bills and accomodation expenses while on business travel.
medical bills etc etc
am a salaried employee.

3 Replies to “various expenses to show – while filing IT returns in india?”

  1. For the annual IT burden all types of incomes are added in the 12 month list.Like gain from shares sold before 1 year,salary and any additional incomes from lottery,gaming,and from gain by selling ornaments,sale /transfer of property and rent received from a house let on ren etc.Exemption of certain % can be had for house rent by deducting corporation tax ,property tax,home loans,standard deductions,as well as for special rate for handicapped persons like section 80DD,and for childrens education bank loans. Certain coverage for hospital expenses related insurance premium like ULIP etc are exempted from tax net.And this is what I know.

  2. You have mentioned that you are salaried employee, in that case you are entitled for deduction specified under chapter VIA ONLY. Expenses on house maintenance, property tax, petrol, travel and accomodation, medical expenes are not deductable from salary income.

  3. If your income is wholly from salary, you won’t be entitled to claim any of the expenses as deduction. The only deductions you will get are the ones specified in Chapter VI A.

    Rent- If your salary contains HRA, then you are entitled to get an exemption for rent paid to the extent of the least of the (i) actual HRA received (ii) Rent paid in excess of 10% of your salary or (iii) 40% of your salary (50% if you are staying in metro city).

    Medical reimbursement (not medical allowance, which is fully taxable) shall be exempt upto Rs. 15,000 and any amount exceeding Rs.15k shall be taxable.

    You can claim deduction for property tax if you have any income from house property but not from salary income.

    Other expenses are not eligible.

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