Tax saving

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 November 2011 Dear All Experts

i am working in a private company and i am drawing yearly salary 6,14,847/-

deduction U/C VI-A is Rs.4,054/- and 80C is Rs.1,00,000/- and home loan repayment Rs.1,39,276/-. after all deductions my taxable income Rs.3,71,520/- and tax payable Rs.19,727/- and i am expecting Rs.69000/- as incentive in December. kindly advice i want to save some more tax. if possible kindly advice.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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07 November 2011 You can save tax on Rs 20000/ U/s 80CCF.
I think 4054 is Medi-claim. Considering the requirement, you may enhance this and cover your parents also under the Medical Insurance.
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