How could I be exempted from Income tax?

I am working for a pvt company and having 4.5 lac/yr.There is no any source of income for me other then the service. Am suffering from Kidney failure and am on dialysis. am spending about 3.5lac/yr on my treatment. I get just Rs 50,000 as income tax exemption. could anyone guide how could I be exempted from Income tax

Let me tell u that as per my calculation for the F.Y.2009-10 your tax calculation comes to Rs.45320. Thus if your worried about income tax deduction as you say above upto 50000 then there is no question if any tax.

Whether completion certificate is required for claiming for home loan benefit for income tax?

Home loan is exempted from income tax, whether completion certificate is required to be submitted for this purpose.

No completion certificate is required and nothing to be produced. Till last year, the completion date was mentioned in the computation of total income as a note. Now no computation of total income at all after the interdiction of ITR forms. If you start paying the home loan installments (EMI), you can take that date as completion date and in case of inquiry if any, you should be able to prove the completion date. That is all.

Duplicate copy of Form 16

What is the process to get duplicate copy of form 16 from income tax department?
I lost my form 16 and previous employer is not giving a duplicate copy.How can i appy a duplicate copy of form 16 from income tax department?

Form 16 will be available from the employer. You cannot apply to the Income tax dept. to obtain it. You can request your employer to obtain a duplicate copy

How to factor into income tax the loss incurred on share market.?

My income tax liability by end of FY09-10 will be about Rs 100000. During this stock downfall, I incurred a total loss of Rs 20000 due to sale of shares. Does this mean I should be paying a tax of 80K and not 100K ?

If you are treating your loss as business loss, then you can deduct Rs.20,000 from Rs.1,00,000. If you are treating the loss as capital gains loss, then you cannot set of the loss Rs.20,000. In any case, if your income is just 1,00,000 for the FY:09-10, your income is below taxable and no need to pay income tax. ( Rs.1,60,000 is tax free income for Male)