Tax planning
This query is : Resolved
29 July 2016
If a person earning salary income about 10 lac p.a. after claiming all deductions what are the ways to save maximum taxes. (open HUF/ take a home loan/ open private trust.......?)
29 July 2016
In case of salaried person, Tax saving resorts are limited to
(i) Allowances partly or fully exempted;- here presence of HRA, Conveyance allowance, etc can reduce ur taxable salary
(ii) investing Total Rs 150,000 to avail full 80C and also other investments or deuctions under VIA
(iii) Availing home loans
(iv) Donations under 80G(U should understand that what u need is a certificate. What u need is to search for Eligible organisation who can give u this certificate in return of consideration/donation.)
(i) Allowances partly or fully exempted;- here presence of HRA, Conveyance allowance, etc can reduce ur taxable salary
(ii) investing Total Rs 150,000 to avail full 80C and also other investments or deuctions under VIA
(iii) Availing home loans
(iv) Donations under 80G(U should understand that what u need is a certificate. What u need is to search for Eligible organisation who can give u this certificate in return of consideration/donation.)
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- EXPORT COMMERCIAL INVOICE HSN CODE
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Cash balance limit and property purchases limit
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
CAclubindia
