Wednesday, April 4, 2007


1. Do you know you can get tax excemption for staying in rented house? Yes. If you do not have any property(land/house) on your name and if you are staying in a house of rent more than Rs 2000, then 10% of it is excempted of tax.

2. You don't get tax excemption for buying a second house. However you can get tax excemption for the rent you receive from that house.

3. You get 50% tax excemption for any charity(should be reg) done.