Thus effectively, now these are covered under the maximum limit of .1,50,000/- under section 80C.
However, unlike the bonds under 54 EC, the depositor cannot put the money in a different kind of asset.However there is no benefit available on the repayment of principal amount of the loan. .The maximum standard rebate is 650, but supplemental rebates for qualifying homeowners can boost rebates to 975.This year's budget (2016) has increased the exemption limit from.You were to get the tax ltd promotion code benefit only in the year in which you have invested in these instruments. .The last date for filing of income tax return is usually July 31 for individuals (sometimes the same is extended).First time home buyers can claim an additional Tax deduction of upto.Rs.3,00,000 for Senior citizens,.2,50,000/- for resident individuals).AY 2017-18 the following rates were also applicable for FY 2015-16 (AY 2016-17) FY 2014-15 (AY 2015-16).The gifts are no longer taxable in the hands of donor or donee. .In case the house is in the joint lays chips contest winner 2013 canada name of your spouse and you (joint loan each one can avail of Rs2 lakh interest component deduction. .These were around 8 in Dec 2011. .800/- per month.Now, this IS NOT allowed.The basic exemption limit for Very Senior Citizens(80 years and above) is Rs3.50 lakhs * A tax rebate.5,000/- may be imposed under section 271F if belated return is submitted.Section 80DDB - Deduction in case of very senior citizens ( 80 years) on expenditure on account of specified diseases.(a) Short Term Capital Gains : Capital gain is considered as Short Term Capital Gain, if immovable property is sold / transferred within three years of acquiring the same. .However, total deduction for health insurance premium and medical expenses for parents shall be limited to Rs 30,000.This extra tax deduction is available to only those homebuyers, who meet ALL the following criteria - (i) who have home loan sanctioned in FY 2016-17 (ii) whose loan amount is less than 35 lakhs (iii) value of house should not be more than.