How to aovid tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 July 2012 I have Gross Total Income before Deduction of Rs.259,450/-(AY:2012-13) which includes Rs.130,000/- as Salary Income and Deduction of Rs.60,000 is available under 80C.I being a Individual(Male)my net taxable income comes to Rs.199450/-
My question is since there is a tax liability how should i avoid the same ??

thnks in advance

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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11 July 2012 Your tax liability comes to Rs. 1,945.

To save the tax liability you should have made an investment of Rs. 19,450.

What is the other source of income? If it is business income, you can claim expenses.

Querist : Anonymous

Querist : Anonymous (Querist)

11 July 2012 Other Source of Income is Interest Income.....can i make investment now to avoid tax

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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11 July 2012 Assuming the details are fro FY 11-12, Investment should have been made on or before 31.03.2012.

Pay the tax of Rs. 1,945.

It is not such a big amount.

Querist : Anonymous

Querist : Anonymous (Querist)

11 July 2012 Where i need to pay tax and to whom and wats the last date??

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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12 July 2012 You can pay the tax online.

Visit this link:

https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp

Select Challan ITNS 280

The last date is 31st July, 2012.

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