deductible for income from salary

This query is : Resolved

sandesh mane (Querist)
Follow

29 May 2009 Dear Friend,

If i want to save taxable income of Rs.1854/- from salary than what should i show as deduction and where to make investment.
1. i heard about rent receipt but i'm not aware of it how it works.
2. what should i do for rent receipt procedure.
3. to save tax where should i invest as market is not in good condition.(insurance or any other...pls suggest)
4. till what amount should i invest to save Rs. 1854/-.

Vipul J. Bhavsar

Vipul J. Bhavsar (Expert)
Follow

29 May 2009 1. Rent receipt will come into picture when you are receiving House Rent Allowance(HRA) and you are staying at a rented place and you dont own a residential accomodation in the city in which you are working.
Rent receipt is required to be submitted as a proof of rent paid in the financial year.If you are staying at a rented place ask the owner of the place to give you the receipt for the rent paid.

You can invest in Insurance because in the present market condition, it is the best best bet you can do at the same time you can claim such insurance under section 80C as deduction.

You will have to invest atleast 18,000 in order to save Rs.1,854 as tax payment.

You can mail me for further clarification on vipuljeevan@rediffmail.com

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Chaitanya Voolla

chandradhass sathish

Saumil Kapadia

CA Archana R

Tax Expert Group

Subscribe Now

deductible for income from salary

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA