Hi,
I have a simple question about the investment.
Here is a scenario.
Total income: 2,00,000
No tax: 1,80,000
Balance: 20,000
If I invest this 20,000 in Share Market as a long term investment, will I have to pay 2,000 (10% of taxable income) as income tax or I can able to put this 20,000 in 80C section anywhere as an investment.
Thanks for the answer
Sakitram
1. If you are going to invest Rs 20000/- in share market ?????
I will advise you not to save Rs. 2000/- by investing there even if you get tax benefit. (However you will not get any)
Because , out of Rs. 20000/- you may or may not get Rs. 2000/- only ,
for which you had made such a long term investment.
(In share market investment -may become watse. )
2. To invest under the Schemes of Section 80C like NSC, PPF, LIP etc are the only ways to save tax.
CAclubindia
