I will do that. thanks.
Hi,
Can I claim exemption of HRA below 1 lac on income tax website if I am not living in rented property ?
I have not paid for mediclaim for my parents but can I claim it on income tax website for Rs.22000 ?
Can I claim Rs.25000 exemption in LTA if I have not travelled during FY 2021-22 to reduce the tax to be paid ?
Hello sir/madam, this FY I have some medical bills for OPD treatment and medical tests like sugar and cholesterol. Can I claim this expenditure under 80D ?
Hello @Shantanu_Marathe,
You should only claim deduction/ exemption for investment/ expenses that you have actually incurred. This year ITD is sending intimation to assesses especially in cases where refund is to be initiated to either confirm that all deductions/ exemptions claimed are correct if the claims are higher than what you declared to the employer or revise the ITR and enter correct claims.
Hope this helps!
Hello @sourav_konar,
If you’re a senior citizen then only you can claim deduction u/s. 80D for medical expenses incurred by you. Or if your parents are senior citizen and you have paid for their medical expenses then you can claim deduction u/s. 80D.
You can claim up to INR 5,000/- u/s. 80D for preventive health check up.
Hope this helps!
Hello all,
Below is my salary
Cash component(per month):
Stock component (per quarter):
I am total naive in taxes,
Can somebody help me to understand where i can save taxes on both salary and US shares?
Hi @Shaggy,
For salary income, you can save taxes by making investments in LIC, Tax savings ELSS, health insurance premiums, or if your parents are senior citizens, then you can claim medical expenses incurred towards their health, etc.
Here’s a read on tax savings & deductions an individual can claim.
For your capital gains in US shares, you can claim foreign tax credit while filing the income tax return for that relevant assessment year.
Hello,
I’ve investment proof submission deadline until Jan 23.
I do ELSS investment SIPs every month. Considering I’ll do it till March for this FY, my proof wouldn’t show that right? It’ll only show until Jan 23 as my two month payments will be still pending. So how does this work out?
I’ll be taxed for the last two months as it is not being shown in the proofs?
Hello @Kaushik_Seetha,
The SIP investment plan shall have details such as start date, end date and amount of investment mentioned in it. So you can provide that as proof of investment so accurate TDS shall be deducted.
Hope this helps!
Hello,
I’ve investment proof submission deadline until Jan 23.
I do ELSS investment SIPs every month. Considering I’ll do it till March for this FY, my proof wouldn’t show that right? It’ll only show until Jan 23 as my two month payments will be still pending. So how does this work out?
I’ll be taxed for the last two months as it is not being shown in the proofs?
Hello @Kaushik_Seetha,
The SIP investment plan shall have details such as start date, end date and amount of investment mentioned in it. So you can provide that as proof of investment so accurate TDS shall be deducted.
Hope this helps!
The thing is that i am planning to buy a EV two wheeler for my mother in law. invoice and registration will be under her name. but as i will be paying for it can i get exemption for it in IT?
under which section?
Hello @Vidya_Dhage,
To claim a deduction u/s 80EEB of the income tax act for interest on loan taken for an electric vehicle, the loan should be in the name of the assessee claiming such deduction and the loan should be sanctioned between 01/04/2019 to 31/03/2023.
Hence it is mandatory to have registration and invoice for the EV in your name if you want to claim the deduction.
Hope this helps!
i have declared savings bank account interest in income from other sources; however it is not filling anything in exemption under u/s80TTA.
Can someone please explain why this is happening?
Hi @khushboo_soni, if the total interest that you are earning is below Rs. 10,000 then the actual interest shall be exempt. However if the total interest that you earned in above Rs. 10,000, then only Rs. 10,000 can be claimed as tax exemption.
Hello,
I deposit my funds through Zerodha’s Coin. I can’t find the end date for it in the report. It’s showing the deposits I made until December. That’s obvious though but I have SIPs in the next 3 months too. .
I did not find an option to add charitable donation under tax breaks → maximize deductions. There are only 2 options available, PM cares and political party donation.
You will be able to Add the deduction u/s 80G by navigating to Tax Breaks > Popular Deductions (Chapter VI ) >80G > Any other donations
Hope this helps.
