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Hi
i vishnu, my father has been workng in railway's. he earns 450000 Rs@annum he paid tax for several years. now we have takne 500,000Rs/- as house loan form Bank. i request you please tell me. what will we submitt to Tax Dep. for deduction of amount . this year He paid 35000 rupees. please tell me, i must to do what will you tell.
Regards,
Bejji.
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You should compute your father's net taxable income after taking all the deduction into account.
Derive at the taxable income and tax on the same, if you have paid excess than the same can be claimed as refund.
For that you will have to file your father return with the department.
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