Income Tax for AY 16-17

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  1. Sarfraz Khan

    Sarfraz Khan New Member

    Dear Sir,

    AY 16-17

    How Much Can I take exemption under section 80C ?

    Home Loan Principle more than one house?

    Home Loan Interest more than one house?

    How much Tuition fees can be exempted with Terms and conditions.

    Any Income Tax advantage on school fees ?
     
  2. Manoj Mehra

    Manoj Mehra Active Member

    1. Total Exemption under Section 80C - 1,50,000
    2. Home Loan Principal Deduction allowed for more than 1 house
    3. Home Loan Interest Deduction allowed for more than 1 house
    4. Private Tuition Fees not allowed as Deduction
    5. School Fees allowed as Deduction under Section 80C. Limit - Rs. 1.5 Lakhs as mentioned above
     
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