Hi All,
I need assistance on Income Tax deduction and tax planning details, following are my details,
Total Salary : 620000 + 70000(Bonus) = 690000.00
80C Investment :
PF: 30000.00 Approximate
Child Education : 25000.00 Approximate
LIC : 29000.00 Approximate
Post Office : 12000.00 Approximate
Home Loan : as per last year Principal : 60000 and Intrest : 140000.00 Approximate
Mutual Fund : 15000.00 Approximate
My pay details and 80C deduction details, this year im getting 325000.00(Only for this year) for relocation charges and this will fall in my income tax as well. If that is added it will be 690000 + 325000 = 10 Lacks. As per my rough calculation i will be paying 20% of income tax. Is there any other invesment will help in saving my tax. Please assist some tax saving details , any informaiton provided will be help full.
Thanks!!
CAclubindia
