tax planning

This query is : Resolved

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)
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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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