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When the income tax certificate was issued to me, these TPA expenses were not specified as being exempt from tax.
- Archana Ravi
Deduction under Section 80D is available on the insurance premium paid by an individual on the health of the individual, spouse, dependent parents or dependent children of the individual.
TPA fees not considered as part of the insurance premium and hence would not be eligible for deduction.
I want to buy agricultural land with a house that is built on it. Can I get a home loan with a tax benefit?
- Umesh Suryawanshi
Generally home loans are not extended to agricultural land and homes built on agricultural land. Such loans are often covered under agricultural related loans by institutions such as NABARD.
Hence, these loans would not be eligible for tax deduction for home loan repayment.
However, if any loan is provided by any institution towards the financing of the home, then it may be considered for the purpose of income tax deduction. But, the loan certificate must clearly state that it is a loan for the home only and the repayment is towards this home loan.
With regards to my provident fund transfer, I sent Form 13 to my previous company. My earlier employer said that they will send it to the PF office. What is the next step?
- Joy Ramachandran
Generally, the practice is that Form 13 is given to the labour consultant of the new employer who completes the process of transfer.
In your case, you have already submitted the form to your earlier employer. Now on submission of the form to PF office they would have got a receipt/slip evidencing such submission.
You would need to obtain this slip from your previous employer. You could provide it to the labour consultant of the new employer to follow up on the transfer process with the PF authorities.
It generally takes about a month and half for the account to be transferred to the new employer.
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