CA SANDESH MAHIPAL (Practicing in GST and MSME ) (1985 Points)
12 February 2011I AM RECEIVING Rs. 400000/- P.A. AND U/S 80C I AM CLAIMING Rs. 100000/- AND MINIMUM SLAB OF Rs. 160000/-.
I ALSO WANT TO SAVE MY REST Rs. 14000/- TAX.
HOW CAN I CLAIM ANY MORE DEDUCTION? IS THERE ANY OTHER SECTION IN WHICH I CAN HAVE MORE TAX SAVING.
I DONT WANT ANY DEDUCTION U/S 80G FOR DONATION.
Mayur Arora
(CA Final)
(295 Points)
Replied 12 February 2011
why u dont want to pay any tax
u should pay some tax
i don't advise u to invest Rs. 20,000/- u/s 80CCF as it will save ur tax liability of Rs. 2,060/- other point is interest receivable on such investment will be very less and u hve to stay in this investment for a minimum period of 3 years.
But u can take the mediclaim policy u/s 80D of Rs. 15,000/- for urself , spouse and children plus u can also take the policy for ur parents for which u will get an extra deduction of Rs. 20,000/-.
I suggest u to pay the tax after such deductions.
CA Himanshu Khurana
(Chartered Accountant)
(813 Points)
Replied 12 February 2011
you can invest in Rs. 20000/- in Infrastucture Bond & Rs. 15000/- in Mediclaim Policy (80D)
AnandKumar
(Chartered Accountant)
(203 Points)
Replied 14 February 2011
Mr. Mayur he will get only additional 15,000 for parents. in case any of the parent is senior citizen then only limit is 20,000.
Mayur Arora
(CA Final)
(295 Points)
Replied 14 February 2011
You are right Anand Sir he will get Rs. 15,000 for parents if they are below the age of 65 years.
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