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Home loan rebate 2016 17

home loan rebate 2016 17

Rs 5,000 per month.
The definition of Salary is only Dearness hp laserjet toner rebate Allowance.
If your property is a let-out one then the entire interest amount can be claimed as tax deduction.
Additional exemption of Rs 50,000 under sec 80CCD for investing in NPS (New Pension Scheme).Increase in, medical Insurance Premium exemption limit from Rs 15,000 to Rs 25,000 u/s 80D (up to 30K for Senior Citizens).Section 80E If you take any loan for higher studies (after completing Senior Secondary Exam), tax deduction can be claimed under Section 80E for interest that you pay towards your Education Loan.The maximum allowable Tax deduction under this section is.5 Lakh.Secondary and Higher Education Cess: 1 cess on income tax including surcharge.EPF (Employees Provident Fund five year Bank or Post office Tax saving Deposits.The Finance Minister has kept the Personal.NSC (National Savings Certificates eLSS Mutual Funds (Equity Linked Saving Schemes kids Tuition Fees.To claim Tax deductions under Section 80DDB, it is mandatory for an individual to obtain Doctor Certificate or Prescription from a specialist working in a Govt or Private hospital.
There is no change in income tax slabs except additional 2 increase in cess for super rich (i.e.Principal Repayment on educational loan cannot be claimed as tax deduction.For Senior Citizens it is Rs 30,000.For very senior citizen above the age of 80 years who are not eligible to take health insurance, deduction is allowed for Rs 30,000 toward medical expenditure.Rs 25,000 increase in deduction available to persons with disability and severe disability u/s 80DD and 80U 2 surcharge on Super rich (i.e.Section 80 TTA Deduction from gross total income of an individual or HUF, up to a maximum.These features might be incorporated in next versions of the Tax calculator.Principal repayment of Home Loan, nPS (National Pension System life Insurance Premium.