Save income tax
This query is : Resolved
CA MOHAN LAL KUMAWAT
(Querist)
02 December 2015
my salary in this fy 2015-16 will be Rs. 6 lac.
so that how to avoid tax.
Amol S Joglekar
(Expert)
02 December 2015
investment in 80C,
housing loan interest, if any
medical insurance.
housing loan interest, if any
medical insurance.
02 December 2015
Hope you intended to 'plan' your tax and not 'avoid' tax....
Your employer may structure / break-up the CTC (Gross salary cost to the company) into various components such as basic salary, HRA, PF Contribution by the company, Transport Allowance, LTC, Annual Bonus, Children Ed. Allowance, Hostel allowance, Medical Reimbursement, etc. Depending on the location / nature of industry may further break-up the salary.
Apart from this, Investments u/s 80C, Medical Insurance u/s 80D, housing loan repayment u/s 80C or housing loan interest u/s 24 are available.
Your employer may structure / break-up the CTC (Gross salary cost to the company) into various components such as basic salary, HRA, PF Contribution by the company, Transport Allowance, LTC, Annual Bonus, Children Ed. Allowance, Hostel allowance, Medical Reimbursement, etc. Depending on the location / nature of industry may further break-up the salary.
Apart from this, Investments u/s 80C, Medical Insurance u/s 80D, housing loan repayment u/s 80C or housing loan interest u/s 24 are available.
Amol S Joglekar
(Expert)
03 December 2015
@ Ram Pavan Kumar Melam....
AVOIDANCE of tax is allowed.
What is not allowed is EVASION of tax.
I am sure you want to say the same by using the words "plan" and "avoid"
AVOIDANCE of tax is allowed.
What is not allowed is EVASION of tax.
I am sure you want to say the same by using the words "plan" and "avoid"
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