what cash expenses can be shown in personal account to reduce tax burden?
Devendra
(Chartered Accountant)
(4775 Points)
Replied 05 August 2013
To reduce the Tax burden one can :
1) Invest in Life Insurance Policy
2) Take out Medicliam Policy
3) Invest in PPF
4) Invest in NSC
5) Make Donations to Charitable Trusts registered u/s 12AA of the Income Tax Act, 1961.
Cash expense cannot be a solution to reduce Tax Burden.
Regards,
Devendra Kulkarni
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