Income Tax saving advice

Q & A Forum › Category: Home Loans & Credit › Income Tax saving advice

vj_quest asked 7 years ago

Hi Sree, My mom is 55. She will retire in 1 or 2 years. She thinks she is paying too much of tax, so she thinks to take a home loan and start building a house. Already she is having tax exempt of 1,50,000 under 80C & 50,000 under 80 D. Are there any other option to save tax other than medical insurance? or her proposal of start building a new house is a good one?

1 Answers

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Sreekanth Staff answered 7 years ago

Hi, Is the idea to take a home loan for just to save some taxes? Will she be able to pay the home loan EMIs after her retirement? Has this been planned? Is she going to pay same amount of taxes after 2 years? Kindly read :

Income Tax Deductions List FY 2018-19 | List of important Income Tax Exemptions for AY 2019-20
Income Tax Deductions List FY 2019-20 | List of important Income Tax Exemptions for AY 2020-21
Why you should think beyond TAX when investing!