Maximum tax benefits .
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 November 2013
An individual aged 87 years . What is the maximum tax benefits he could avail as he is getting salary from a private concern.
10 November 2013
the exemption limit is 5 lakhs.
Plus 1 lakh deduction under 80C, Rs 20000 under 80D.
other tax reductions can be done under salary structure in form of reimbursements, medical expense reimbursement, traveling expense allowance, HRA etc
Plus 1 lakh deduction under 80C, Rs 20000 under 80D.
other tax reductions can be done under salary structure in form of reimbursements, medical expense reimbursement, traveling expense allowance, HRA etc
11 November 2013
In addition to the expert,
Senior citizens also have the benefit of Section 88B under which they are eligible for a rebate of Rs 20,000 from tax liability.
Senior citizens also have the benefit of Section 88B under which they are eligible for a rebate of Rs 20,000 from tax liability.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- FORM 26A APPLICABILITY
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
