saving tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2011
My age is 25ys and my annual income is 275000. Please suggest me which is best option of saving tax, where should i invest that my tax liability becomes nil?
Manish Sarawgi
Cost Accountant
Manish Sarawgi
Cost Accountant
CA PARAS BAFNA
(Expert)
28 February 2011
1. You can take benefit of Section 80C , by investing in LIC, PPF, Purchasing NSC etc. Upto Rs 1.00 lac
*
2. 20000/- can be invested in Bonds prescribed for s. 80CCF.
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3. Charity is the best option. Donate Rs. 5000/- to Prime Minister's Relief Fund.
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4. If you do not want to donate ... pay for Medi-Claim Policy also.
*
However, the last two options may be exercised by you in the years to come. So choose the savings plan according to Point No 1 & 2 only.
*
2. 20000/- can be invested in Bonds prescribed for s. 80CCF.
*
3. Charity is the best option. Donate Rs. 5000/- to Prime Minister's Relief Fund.
*
4. If you do not want to donate ... pay for Medi-Claim Policy also.
*
However, the last two options may be exercised by you in the years to come. So choose the savings plan according to Point No 1 & 2 only.
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