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Mihir

Mihir Tanna  | Answer  |Ask -

Tax Expert - Answered on Dec 06, 2023

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Vishal Question by Vishal on Jul 07, 2023Hindi
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I didn't have down payment of 20Lacs so couldn't buy home in navi mumbai so what if I buy home at Karad and now I am staying in Navi Mumbai on rent will i be able to claim HRA and home loan.Also if I bought new house after 3-4 years in navi mumbai can i claim tax benefit for both loans

Ans: Yes HRA can be claimed if own house property is in different city and due to employment, you have to stay on rent.

Further, with reference to deduction of Interest and Principle repayment on housing loan, subject to prescribed limit (Rs.2 lacs for self occupied home interest and Rs.1.5 lacs for principal repayment u/s 80C ), benefit can be taken for both houses.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Tejas

Tejas Chokshi  | Answer  |Ask -

Tax Expert - Answered on Jun 12, 2023

Asked by Anonymous - Jun 05, 2023Hindi
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I didn't have down payment of 20Lacs so couldn't buy home in navi mumbai so what if I buy home at Karad will i be able to claim HRA and home loan.Also if I bought new house after 3-4 years in navi mumbai can i claim tax benefit for both loans
Ans: If you buy a home in Karad, you can claim tax benefits on a home loan, but you may not be eligible to claim House Rent Allowance (HRA). Here's an explanation:

Home Loan Benefits: If you purchase a house in Karad and take a home loan for that property, you can claim tax benefits on the loan under the following sections:

a. Deduction on Home Loan Interest (Section 24(b)): You can claim a deduction on the interest paid on the home loan up to Rs. 2 lakh per financial year, subject to certain conditions.

b. Deduction on Principal Repayment (Section 80C): You can claim a deduction on the principal repayment of the home loan under Section 80C, up to a maximum limit of Rs. 1.5 lakh per financial year, along with other eligible investments.

House Rent Allowance (HRA): HRA is a benefit provided to salaried individuals who live in a rented house. If you own a house in Karad and reside in it, you may not be eligible to claim HRA, as you are not paying rent.

Tax Benefits for a New House in Navi Mumbai: If you buy a new house in Navi Mumbai after 3-4 years, you can claim tax benefits on the home loan for that property as well. The tax benefits mentioned earlier (deduction on home loan interest and principal repayment) can be claimed for both properties separately, subject to the prescribed limits and conditions.

..Read more

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Dr Nagarajan Jsk

Dr Nagarajan Jsk   |224 Answers  |Ask -

NEET, Medical, Pharmacy Careers - Answered on Feb 01, 2025

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I have completed my msc in biochemistry n now doing internship but I am confusing about my future because I see this field don't pay me inuff for life even for future... N don't have more jobs in Maharashtra. I don't like production jobs but in Pharma only production pay much so what can I do .. Can u suggest me which job is high payable after Msc biochemistry
Ans: Hi Nandu,

Greetings!

Could you please let me know which year you completed your course and whether you are currently doing an internship or apprenticeship? An internship is part of the curriculum, where students gain practical training, sometimes with a stipend and sometimes without. After completing your course, you can opt for an apprenticeship, which typically lasts one to one and a half years and includes a stipend, usually split 50%-50% between the industry and government.

If you are in the internship phase, please inform me about the specific field you are working in. Initially, you may not expect a high salary, but after gaining expertise in your field, your compensation will improve. Typically, this takes about three years, so it’s important to focus on skill acquisition for a better future.

If your internship aligns with your field of study, I encourage you to continue and consider starting a medical lab or exploring opportunities in medical devices related to biochemistry. However, pursuing a career in pharmaceutical production may not be suitable for you, as it is a different field, and you may find it challenging to grasp the processes involved since you are currently inexperienced in that area.

Please share the specific field of your internship, and I would be happy to provide more tailored advice.
with regards

Poocho. Life Change Karo!

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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