Reg: deductions
This query is : Resolved
31 October 2011
As my aunt is working in Railway and near to retire.But her tax liability is upto 13,000/- per month. So what may be the deductions available to her to save from this taxable amount.
Please suggest me what all we can get..
Please suggest me what all we can get..
31 October 2011
Generally. salaried employees avail deduction u/s 80C which includes, lic premium, pf contribution. investment in NSC, housing loan principal repayment, tuition fee of children etc aggregating to Rs. 1,00,000/-, Medi calim u/s 80D,eligible amount is actual premium paid or Rs.15,000/- which ever is the least and deduction u/s 80CCF for subscription to long term infra structure bonds up to Rs.20,000/- per annum.
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