Income tax Query

You have been paid salary exceeding basic exeption limit. hence TDS must be deducted from your salary. Get credit of TDS against your Tax liability.

You have to pay the tax or for more savings, you can take mediclaim policy upto 15 k and invest another 20 k in bond to save taxes.

ur tax liability is 9000+270(ec & shec)=9270

and for saving u can take the mediclaim policy- [ 15000 (ur's max. exemption)+ 20000  (parents' max exemption) ]

if u have donated money than amt of donation

furthur if any tds is already deducted from ur salary than dont forget to take the credit

SEC 80D MEDICLAIM POLICY.  AGREE WITH DEEPAK SIR

All above tax planning are correct.

Also you can save your HRA, if you hav HRA component in your salary structure by producing requisite rent receipts.

Tell me your salary components.

best way is just buy infrastructure bonds deduction u/s 80 ccf upto 20000

hiiiiiiiiiiii friend u can save the tax uder following sectons

section 80(d)

section80(e)

secton 80(g)

for othe details visit www.etaxmentor.com

hi friend visit the following.
https://www.taxqueries.com/

Dear Deepak,

Considering the salary of 5L, i don think contributing 9k to our national revenue would be burdensome :)

Agree with Pradeep Kamath pay the tax and contribute to the development of India.

If you still wants to save tax, then u can save your tax of Rs. 3,500/- by paying premium of Rs. 35,000/- under Sec. 80D by paying premium of Rs. 15,000/- for yourself, your spouse and your children and a premium of Rs. 20,000/- for your parents.

I don't recommend you to invest in Infrastructure Bonds as it is more better for you to pay the balance of Rs. 5,500/- plus education cess.

Agreed with Dheenraj