Tax Saving for senior citizens
This query is : Resolved
Neelam Soneja
(Querist)
28 June 2011
what is the best option for senior citizen to invest which reduces the tax liability??
senior citizen having income around 6 lakhs rupees,
income if from FDRs, MF, Shares and Bonds.
senior citizen having income around 6 lakhs rupees,
income if from FDRs, MF, Shares and Bonds.
sivasankar
(Expert)
29 June 2011
The best option is to invest in PPF because its risk free and also subject exemption in DTC also.You can invest upto 70000 and for the balance you can go for Mediclaim.This reply based on DTC provisions.
Message likes :
1 times
Neelam Soneja
(Querist)
29 June 2011
she has already invested in PPF Rs.70000.
Any other option???
Any other option???
sivasankar
(Expert)
29 June 2011
Try for investments in 80CCF 20000.Moreover sell the shares and MF after 1 year so to get exempted from CAPITAL GAINS.Since dividend is tax exempt choose dividend payment option for mutual funds instead of choosing dividend re-investment option or growth option.
You can change the option now also in consultation with the MF agent or fund house.
But change the option only for one year old mutual funds only.
You can change the option now also in consultation with the MF agent or fund house.
But change the option only for one year old mutual funds only.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
