Savings on Income Tax

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Kalpana

Kalpana (Querist)
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20 March 2008 Dear Friends,

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

Thanks in advance

pushpendra

pushpendra (Expert)
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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)
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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