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Income tax query

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 January 2012 my total salary is of Rs 220000/- in A.y. 2012-13, Hence i come tax Liability, What Provision should made to reduced the tax liability
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
03 January 2012 Provisions only, will not be sufficient. You have to invest by making payment. LIC, PPF, NSC, choose any of the three and invest up to Rs. 40000/-
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Rabindra Kumar Sahu

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Rabindra Kumar Sahu (Expert)
06 January 2012 You have to first verify the professional tax and other and other deduction u/s 10.Then the rest amount i,e(220000-PT-u/s 10-180000) will have to invest to relief from Income tax.

Thanking You
R K Sahu
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