Dear Sir
My Per Month Salary is give below:-
Basic Salary- Rs 21500/-
HRA:- Rs 10750/-
Special All:- Rs 9506/-
PF Allowance:- Rs 2580/-
Conveyance: Rs 800/-
Children Allowance: Rs 200
Mobile :- Rs 1000
Medical :- Rs 1250/- (Quaterly)
Exgratia/Bonus @ 8.33% - Rs 3881/-(Yearly)
& My Investments :- LIC Premium: Rs 24497/-, Tax Saving Mutual Fund:- Rs 60000/-, & Rent Paid :- Rs 11000 PM
Sir Pls tell how much tax will pay on my income & my investment is sufficiant up to rs 100000/- or not
As per your investment Rs. 24497 + Rs. 60000/- ( LIC premium + Tax Saving Mutual Fund) = Rs. 84497 and PF exemption Rs. 30960/- Total amounting to. Rs. 115457/- in Deduction under chapter VI ( Sec 80C) the limit is Rs. 100000/-. So you are taxed upto Rs. 14905/-.
You are requested to investments some more amount or may go for Housing loan for getting exmeptions.
With Regards
B.sreenivasa rao
Shaswat initial support private limited
Ahmedabad
CS
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Shyam Joshi & Associates
Pune
B.Com
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CAclubindia
