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tax planning

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Querist : Anonymous

Querist : Anonymous (Querist)

31 January 2011 An individual having income from professional service (income from college on monthly basis appointed on adhoc basis & no tds & no prof. tax deducted) as well as STCG income & Income from other sources. & income fall in second slab i. e. taxable @ 20% then to save the tax what should be tax planning to be done so that minimum tax to be paid.

B. Gopalkrishna Baliga

B. Gopalkrishna Baliga (Expert)

31 January 2011 use specified investments upto Rs.1,00,000/- as mentioned u/S 80C to 80 CCC and additional investment of Rs.20,000/- u/S 80CCF. Also he can have the benefit of mediclaim upto Rs.20,000/-
also, if he's got an education loan, he can get deduction on interest amount as well

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