Tax saving fd

This query is : Resolved

charan (Querist)
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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

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.

Amol S Joglekar

Amol S Joglekar (Expert)
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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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