Tax Adive

Hi Ramu,If you just say that you have a income of Rs.6 lacs p.a no one can give you proper advice for tax exemption. For this you need to say us everything abt your income, expenditure, investment etc.

Dear Ramu, you can claim both exemptions and deductions from your income under various sections of the act. For claiming deductions you can refer to SEc.80C to sEc.80U, however as per sEc.80CCE-"The aggregate amount of deductions under section 80C, section 80CCC and section 80CCD shall not, in any case, exceed one lakh rupees." Also if your income includes any income from cap. gains, then deductions may be planned acc. to SEc.54 to SEc.54H. Also SEc.10 provides certain incomes to be excluded in computing the taxable income. so you can refer these sec.s' bye

Thanks a lot I will Update soon Once again thanks

Hi ramu, What Mr. Amit Daga is siad that's totaly correct, without giving the full detail of ur income and expenditure one can't give u the proper advise. Still u want the advice then first select a proper portfolio which will minimise ur tax burden.

Ramu Mr.Mitra give you nice advice,As you are a student of final even you can understand whatever he said thats not useful but just thing those are exemption section which anybody can suggest you.