As per Section 208 of the Income Tax Act, the following are liable to pay advance tax,
Every person whether an individual, firm or a company whose estimated tax liability for the financial year (i.e., for the year in progress such as FY 2016-17, FY 2017-18, etc.) after Tax Deduction at Source is ≥ INR 10,000 shall pay its tax for the year in a…[Read more]
Login to e-Filing website (https://www.incometaxindiaefiling.gov.in/home).
Click on My Account and then select “View Form 26AS (Tax Credit)”.
Form 26AS is a tax credit statement of a financial year which includes the following:
a. Tax Collected at Source (TCS),
b. Tax Deducted at Source (TDS),
c. Advance Tax/ Regular tax/ Self-Assessment Tax…[Read more]
Yes, only if the loan taken is for purchase, construction, repair, renewal or reconstruction of the house. If the loan is taken for personal or other purposes, then the interest on such loan cannot be claimed as deduction.