House loan interest deduction up to 3,50,000




Get House loan interest deduction up to 3,50,000
              अब मिलेगी 3,50,000 तक की छूट
   Budget 2019, Save Tax Up to Rs 109200
 HousingLoan Deduction, Increased From 200000 to 350000



1)     The union budget 2019 has introduced a new section 80EEA to extend the tax benefits of the interest deduction up to Rs 1,50,000

Analysis if both Sec 24 and Sec 80 EEA is Availed
Tax Slab
Exemption Amount
Tax Component
Cess @ 4%
Total tax Saved
5%
350000
16500
700
17200
20%
350000
70000
2800
72800
30%
350000
105000
4200
109200
Analysis of New Section 80 EEA if Availed
Tax Slab
Exemption Amount
Tax Component
Cess @ 4%
Total tax Saved
5%
150000
7500
300
7800
20%
150000
30000
1200
31200
30%
150000
45000
1800
46800

Ø Conditions for claimingthe deduction

·      Housing loan must be taken from a financial institution or a housing finance company       for buying a residential house property.
·      Loan should be taken between between 1st April 2019 to 31st March 2020.
·      House should be residential purpose and self occupied.
·      Stamp duty value of the house property should be Rs 45 lakhs or less.
·      The taxpayer should not own any residential house property as on the date of sanction of the loan.
·      The deduction under this section is available only to individuals

Comments

Post a Comment

Popular posts from this blog

GST : Eligibility & NON Eligibility for Opting in Composition Scheme

Image
https://tax4wealth.com/v/57ulm2 GST :Eligibility & NON Eligibility for Opting in Composition Scheme Who are eligible taxpayers for opting-in for Composition Scheme:- Following taxpayers may opt for this scheme: • The normal taxpayers having aggregate turnover (at PAN level) below Rs. 1.5 Crore in the previous financial year, who doesn’t want to avail ITC facility. • The normal taxpayers having aggregate turnover (at PAN level) below Rs. 75 lakh in the previous financial year who are situated in following states: i. Arunachal Pradesh, ii. Manipur, iii. Meghalaya, iv. Mizoram, v. Nagaland, vi. Sikkim, vii. Tripura and viii. Uttarakhand • The normal taxpayers supplying services and/or mixed supplies having aggregate turnover of last financial year below Rs. 50 lakhs. Taxpayers, who are not eligible for opting in composition scheme: i. Suppliers of the goods/services who are not liable to be taxed under GST, ii. Inter-State outward suppliers of goods/services, iii. The taxpayers
Read more

The Benefits of engaging in Accounting Programs for Professionals

Image
Accounting is a vital function for any business, and accounting professionals are in high demand in India. Accounting programs can help professionals in India to develop the skills and knowledge they need to succeed in their careers. Here are some of the benefits of engaging in accounting programs for professionals in India: 1. Improved financial management : Accounting programs can teach professionals how to manage their finances effectively. This includes skills such as budgeting, forecasting, and financial reporting. 2. Enhanced decision-making : Accounting programs can help professionals to develop the skills they need to make informed business decisions. This includes skills such as financial analysis and risk assessment. 3. Reduced risk of errors : Accounting programs can help professionals to reduce the risk of making errors in their work. This includes skills such as accuracy and attention to detail. 4. Increased compliance : Accounting programs can he
Read more

Top 5 Accounting Certification Courses in Patna with Job Placements

Image
The present times are of tough corporate competition.   Efficient conduct of accounting procedures has become an essential fact for every organization as it gives an accurate financial picture of the enterprise.   At the same time, future business related strategies are also determined.   There are ample job opportunities available in the accounting field.   But employers seem to hire only those candidates who have good accounting skills.   For the betterment of accounting skills, training under accounting is necessary.   Accounting Certification Courses focus on practical training to develop a practical understanding of accounting in the candidate.   Also many students in Patna who want to make a career in accounting want to know about such courses and job placement courses in Patna .    Academy Tax4Wealth has also prepared training modules for some online accounting courses, which are available in Patna.   This article provides information about the availability of job placement cou
Read more