Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Savings on Income Tax

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Kalpana

Kalpana (Querist)
Follow

20 March 2008 Dear Friends,

CTC is 2.3 lakh p.a, Please guide me on tax benefit.

Thanks in advance

pushpendra

pushpendra (Expert)
Follow

20 March 2008 Pl. give the details of 2.3 lakh p.a., you can take benefit of Mediclaim Insurance in Sec. 80D up to Rs. 10000 and take exempting up to Rs. 1,00,000.00 U/s 80C. prefably invest in MF.

u can contact me on pushpendra2@yahoo.com

MBA(Fin)_Pranav

MBA(Fin)_Pranav (Expert)
Follow

20 March 2008 For working of Income tax, you should provide complete break up of the same.

let me brief you.

1) you will get Rs. 800 * 12 = 9600 exempted for conveyance allowance.

2) Rs. 15000 for medical reimbursement.

3) HRA exemption. (40% of Basic or Rent paid - 10 of Basic or Actual HRA received) which ever is less.

4) you will get 80C benefit up to Rs. 1,00,000

5) You will get 80D benefit up to Rs. 10,000

I hope the above is useful to you

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now