Re: Apart from 80CC , which is the best option for investment to
by amit singh on Oct 30, 2009 02:01 PM Permalink
hi u can donate money to orphans and the money u donate will be deducted from ur gross salary under section 80D or 80G
If i m putting 20000 in a year in PPF account, How much tax exemption will i get? Can i show the full 20000 as savings or i can show only some percentage amount in 20000?
I have a salary of Rs.3,70,000 per annum. Basic is Rs. 148,000.00,Pf is 17760, gratuity is 7119 HRA is 72000 and special allowance is 116,121 Medical reimbursement is Rs.9,000.00. How much amount should i be saving and where? i dont have any rent receipt submitted annually as well. if you could answer my queries i will be greatly indebted and my queries are related to the period April 2007-March 2008.
RE:how do i save tax
by sushma on Jan 04, 2008 07:23 PM Permalink
if u want to save tax u ahve ti invest under sec 80c Rs 100000 thsi is including your PF
I have a salary of Rs.2,80,000 per annum. Basic is Rs. 84,000.00, Houserent given is Rs.50,000.00 and Medical reimbursement is Rs.15,000.00. How much amount should i be saving and where? i have a rent receipt submitted that is of Rs.78,000.00 annually as well. if you could answer my queries i will be greatly indebted and my queries are related to the period April 2006-March 2007.
I really don't understand why such a big fuss is made about tax savings. After all, don't you believe that our own country needs tax to have a healthy economy? If every individial thinks of ways to escape tax, we would simply e dragging ourselves to destruction in the long run!! And I don't see any point in people articulating things - All you would be saving at the end of the day would be a very minimal amount. You would realise all your money after 50 years when you would never want money!! - all what you get is loads of headaches. The best policy is for the government to put in a policy to deduct tax at source everywhere across the country!! Pay your 30% tax and be happy....
RE:RE:Saving tax??
by vishnu parandhaman on Aug 13, 2007 07:55 PM Permalink
i sure you dont know anything about tax .. you fool ..or you must be the son of FM or he himself. do u think th FM is a fool like you ..
RE:Saving tax??
by rahul on Jul 13, 2007 11:17 AM Permalink
Mr.Advisor, You are not aware that we directly or indirectly pay more that 50% of our incomes in form of taxes. You should know that ONLY THE SALARIED CLASS pay taxes and rest try to do gimmicks as there is no strong tax policies for them.So rich n business class are becoming more richer n middle-class becoming poor due to rising inflation.It is not how much you earn but the tax savings are limited.
RE:Saving tax??
by -someone sensible. on Jan 05, 2006 03:18 PM Permalink
The tax exemption is given by the government. So, saving tax is not against the law. Moreover, nobody can legally save 100% of the tax that he/she has to pay. The monies that we invest in the various schemes is used by the government for development and that is the reason why we are given an exemption. When we are unmarried and young, our risk taking capacity is greater because as we age our salaries generally are going to increase. So this is the best time to invest rather than in the old age when we will be retired and won't be generating any income. So, contrary to what you mentioned, our need for money in the old age will be more critical because we won't be earning any thing. So start investing now and think of saving tax.
RE:PPF
by sandeep on Jan 04, 2006 12:25 PM Permalink
you can open PPF account(min. amount Rs.500) in SBI Bank. You will require just the address proof and 2 passport size photographs.
Sir, Regarding savings the information given in the article is very useful. Preivously for HRA( House rent allowance) tax exemption is there. Now it is there or not? I want clarification
My CTC is 1.70lacs. I m 22. MAle. Where shall i invest to save tax? My sal hav a big breakup. i mean HRA, medical allowance,Travelling allowance. If i produce Medical bill worth say 10000(d amt allowed)will this B reduced from the the CTC.? Kindly advice.
RE:please advice
by sandeep on Jan 04, 2006 12:22 PM Permalink
you can invest in LIC,PPF ,ELSS and NSC. ELSS is risky, if you can take little risk then go for it.
