Direct Tax Code

Sir, I would like to know whether the tax exemption will continue under the proposed Direct Tax Code, in the following cases: 1) Repayment of principal amount on the housing loans taken prior to 1st April 2012; 2) Premium paid on Life Insurance Policies taken prior to 1st April 2012, where the annual premium is more than 5% of the Sum Assured. Thanking you, (JANARDANA RAO M)

asked Dec 04 '11 at 19:31 by Janardana Rao Mudradi 1111


There won't be any tax benefit on principal repayment for home loan and life insurance policies with premium less than 5% of sum assured, even if any of these is taken before April, 2012.

answered Dec 12 '11 at 18:55 by pankaj 5.2k320

link

Know someone who can answer? Share a link to this question via email, twitter , or facebook
.

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported

Tags:

×777
×94
×81
×65
×55
×40

Asked: Dec 04 '11 at 19:31

Seen: 1,497 times

Last updated: Dec 12 '11 at 18:55