Tax saving cum investment scheme for a.y. 2011-12

One individual whose total income 4,85,000/- and living in his own flat/house with borrowed funds does have to pay tax for the Assessment Year 2012-13:

Business/salary Income                                                         485000/-

Less: Interest on funds borrowed

            for aquiring the property                                              150000/-

                                                                                                                                               = 335000/-

Less: Deduction u/s 80C                                                          100000/-

Less: Deduction u/s 80CCF                                                      20000/-

Less: Deduction u/s 80D   

              for medical insurance of self, spouce or 

                dependent children                                                      15000/-

       &      for medical insurance in respect

                of parents above 65 yrs.                                                20000/-

                                                                                                                                               = 155000/-

           Total income                                                                                                                                 = 180000/-

            Tax payable                                                                                                                                           NIL

A person gets deduction of Rs.20,000/- u/s 80CCF by investing in Infra bonds from AY 2011-12 onwards.

With proper tax planning you can reduce your tax liability; save more; invest better and become wealthier.

https://holisticinvestment.in/plan-your-taxes

Regards

Ramalingam K, MBA, CFP,

Director and Chief Financial Planner,

Holistic Investment Planners

“Best Performing Financial Advisor Award” Winners from CNBC TV18

www.holisticinvestment.in

There are many investment plans which can offer you tax saving benefits. One of them is Birla Sun Life Insurance tax saving plan which you can save up to 100000rs. Also, provides comprehensive financial protection against unforeseen events for your family