Tax saving fd
This query is : Resolved
11 February 2015
Respected Sir
I am an govt. teacher, I have earning the salary of Rs. 302000/- PA. in the FY 2014-15, but I have no tax saving. So sir please tell me the tax saving sachem with tax saving FD which is invest.
GIVEN DETAIL AS PER SCHOOL
Salary 302000
Exmpt 250000
Balance 52000
Rebate 20000
TAX 3296
That I Claim FD amount in every year in income tax?
which is saving tell me?
Thanks
Jaspal Singh
Respected Sir
I am an govt. teacher, I have earning the salary of Rs. 302000/- PA. in the FY 2014-15, but I have no tax saving. So sir please tell me the tax saving sachem with tax saving FD which is invest.
GIVEN DETAIL AS PER SCHOOL
Salary 302000
Exmpt 250000
Balance 52000
Rebate 20000
TAX 3296
That I Claim FD amount in every year in income tax?
which is saving tell me?
Thanks
Jaspal Singh
11 February 2015
In my view Investing in PPF will be better then Investing in Tax Saving FD. Interest from Tax Saving FD is Taxable but Interest from PPF is exempt. You can also take LIC Policy and claim deduction of Premium paid.
You need to make investment u/s 80C of Rs 32000/- to Save the tax.
You need to make investment u/s 80C of Rs 32000/- to Save the tax.
11 February 2015
You need to invest under section 80C. LIP, PPF, VPF, ULIP, FD etc. are vrious options available. You need to select the investment depending upon your RISK appetite.
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