Tax saving options, which one is better?
This query is : Resolved
Kanik Aggarwal
(Querist)
12 April 2011
Hi,
I am a soft eng. and would like to know few things about tax saving options. As per my knowledge i am eligible for rs 1,00,000 investment so my first ques is: Does the interest paid by me in repayment of educational loan comes under this 1 lkh?
and my second ques is which other option i can go for tax saving investment giving high returns and low risk?
I am a soft eng. and would like to know few things about tax saving options. As per my knowledge i am eligible for rs 1,00,000 investment so my first ques is: Does the interest paid by me in repayment of educational loan comes under this 1 lkh?
and my second ques is which other option i can go for tax saving investment giving high returns and low risk?
CA PARAS BAFNA
(Expert)
12 April 2011
Interest paid on educational loan is deductible U/s 80E whereas the limit of Rs 100000/- investment is U/s 80C. As such you may avail both.
For tax savings investment you may prefer PPF (Max. Rs. 70000/-) and unit linked products.
For tax savings investment you may prefer PPF (Max. Rs. 70000/-) and unit linked products.
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