This info is of a great use for all the salaried employees and all those who want to save income tax. Whenever your income rises above the limit, one is liable to pay the income tax and for that one can use the legal means and one of the means is home loan where one can get a rebate upto Rs one Lakh for making an easy monthly instalment (EMI) and this amount has been paid towards repayment of principal amount of the loan and same can be directly deducted from income. A point to remember is that one will get a tax deduction for a maximum amount of Rs one Lakh each year under this section irrespective of his tax bracket.
Click here to Get Free Indian Stock Tips in Email Type your summary here Type rest of the post here