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
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.
*
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.
*
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- GST ITC REVERSE
- Consolidated financials
- Renovation exp. in flat by family member
- FAST-DS Scheme - Foreign Assets
- Regarding Applicability of Tax Audit u/s 44AB
- TDS on TRUST
- Need Professional Opinion AY 2012-13 Old Demand
- New GST registration for new place of business.
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
CCI
Pro
CAclubindia
