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Salary income of Rs1000000/ per year

This query is : Resolved 

11 January 2022 I have salary income of Rs1000000/ ten lakhs per year. The co is deducting tds on my salary. How can i save tax by investing. Please advise the government schemes available?

12 January 2022 As such no specific deduction allowed by investment in any other schemes, except those linked to sec. 80C deduction. Wait for further announcement in next budget.

12 January 2022 For fy 2021-22 what schemes are available for deduction?

12 January 2022 For fy 2021-22 what schemes are available for deduction?

13 January 2022 Pl give details of scheme available for fy 2021-2022.

13 January 2022 https://tax2win.in/guide/deductions

13 January 2022 http://incometaxmanagement.com/Pages/Gross-Total-Income/Salaries/Deduction-under-Chapter-VI-A.html

13 January 2022 https://www.iciciprulife.com/insurance-library/income-tax/what-is-section-80c-of-income-tax-act.html

13 January 2022 You can refer to these 2 links:
https://www.incometaxindia.gov.in/Pages/charts-and-tables.aspx
https://www.incometaxindia.gov.in/Pages/charts-and-tables.aspx

13 January 2022 If income is 10 lakhs per year in fy 2021-22 and we invest 1.5 lakhs in fd for 5 years then taxable income will be Rs10 lakhs- 1.5 lakhs ie 8.5 lakhs. Please clarify?

13 January 2022 Yes, if the FD is under 'Tax Saver' Category.

14 January 2022 In addition to 1.5 Lakh under section 80C, you can save additional 50000/- by investing in NPS. Also medical insurance premium can also be claimed as per prescribed limits

14 January 2022 Can we invest in ppf also for deductions?

14 January 2022 Yes, PPF is also eligible for sec. 80C deduction.



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