Hi,
I have some doubts for the tax calculation of this FY. In the current FY I have been calculated with huge taxes of 40K and want to save some more tax. Looking forward for your expert views in this direction. Below are the two areas in which I need your views:
- I am residing in my own house which is on my parent's name. Can I use the exemption of HRA here, anyways out ?
- To show savings of 1Lac U/s 80C, can I show that I pay premium of my parents LIC policy for this year only. For all the past years, my mother is using this for her tax rebate. Can I use this and take rebate for one time only? If yes, Is it required to pay the premium from my bank a/c or suppose my mom had paid the premium and I just showed the premium slip, Will this works for tax rebates ?
Please guide me from your expert views on this.
Thanks
Anky
I have some doubts for the tax calculation of this FY. In the current FY I have been calculated with huge taxes of 40K and want to save some more tax. Looking forward for your expert views in this direction. Below are the two areas in which I need your views:
- I am residing in my own house which is on my parent's name. Can I use the exemption of HRA here, anyways out ?
- To show savings of 1Lac U/s 80C, can I show that I pay premium of my parents LIC policy for this year only. For all the past years, my mother is using this for her tax rebate. Can I use this and take rebate for one time only? If yes, Is it required to pay the premium from my bank a/c or suppose my mom had paid the premium and I just showed the premium slip, Will this works for tax rebates ?
Please guide me from your expert views on this.
Thanks
Anky