Save income tax

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CA MOHAN LAL KUMAWAT

CA MOHAN LAL KUMAWAT (Querist)
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02 December 2015 my salary in this fy 2015-16 will be Rs. 6 lac. so that how to avoid tax.

Amol S Joglekar

Amol S Joglekar (Expert)
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02 December 2015 investment in 80C,

housing loan interest, if any

medical insurance.

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
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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.

Amol S Joglekar

Amol S Joglekar (Expert)
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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"

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