RE:hii
by Milind Sovani on Jun 17, 2008 10:55 AM Permalink
Section 80c is benefit to a tax payer if he/she invest upto Rs. 1,00,000/- in specified scheme i.e. VPF,PPF, NSC, ELSS, Primium to LIC policy etc. In that case taxpayer's responsibility is being calculated beyond Rs 1,00,000/- Excess income . Currently as per latest budget provision for general male indian citizen basic limit is Rs1,50,000/- For ladies it is Rs. 1,80,000/- and for Sr. Citizsen (Both Male & Female) it is Rs. 2,25,000/- Hence if they invested Rs. 1,00,000/-in specified scheme as quoted above then their tax liabilities will be counted beyond income Rs. 2,50,000/-,Rs2,80,000/-and Rs3,25,000/- respectively. I hope this is enough to decide course of action
RE:RE:hii
by Nand Gupta on Jun 22, 2008 09:08 AM Permalink
To clarify more: VPF means Volunteer Provident Fund. You can ask your employer to deduct more of PF than they usually deduct. This money is tax free. PPF: Public Provident Fund. You can open a PPF account with SBI and other nationlized bank. Here also you can avail tax benefit.
NSC: National Saving Certificate ELSS: Equity Linked Saving Scheme etc.
RE:hii
by Sankar on Jun 25, 2008 03:15 PM Permalink
Hi, I'm earning salary of 5lacs/annum.If i invest for 1lac,how much tax will be deducted in the year end for me? Could you splitup & explain how tax is deducted in detail?
So for a Rs 22 liter petrol at pumps we people pay Rs 30 extra.
Govt. is thinking to impose more price hike to curtain with the current crude oil bubble in International oil crisis.
If Central Govt. wish, it can still reduce the price of petrol in the current crisis situation, but it doesn't intend to do so, instead trying to fool the people and Nation. This is the basis LEFT parties are opposing, just generating more profits for the oil marketing companies.
RE:hii
by Nand Gupta on Jun 22, 2008 09:03 AM Permalink
I think you are only the intelligent guy in the country and other economist in the country are fool. I wish you could have read some economics books before commenting here. No government will hike price because this is one of the major blow for the government. UPA government has done this even though the elections are near. That clearly means there was no options left.
