Tax Planning for retired personnel
This query is : Resolved
25 November 2009
A person retired from government job in the year 2008-09. He received salary arrears from January 2006 to September 2008 in the year 2009-10. This additional salary which he has received is taxable in A.Y. 2010-11. suggest,How can he plan the funds to reduce tax liabilities. Where can he invest to get maximum tax benefit.
shakuntala chhangani
(Expert)
27 November 2009
He can claim rebate under section 89. also make investment under sec. 80C, 80D. if he is a senior citizen, he can get higher exemption. Regards,
CA Shakuntala Chhangani
CA Shakuntala Chhangani
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