Gentlemen,
My Income is 12 lacks from rendering consultancy service abroad to US
do I need to pay tax ? How Can Plan
I can not take home loan till 2 years
what is maximum limit agains all ITR code like 80 c 80ccd and others
plase guide me on this
thanks
Sir,
U cant avoide paying tax but u can reduce the tax burden by showing 1The total limit under this section is Rs 1.50 lakh from Financial year 2014-15 / Assessment Year 2015-16. Before FY 2014-15 the limit was Rs. 1 Lakh. But you need to have the following items out of the following list to claim deduction
Payment of life insurance premiums and investment in specified government infrastructure bonds are also eligible for deduction under Section 80C.
Payments towards the education fees for children eligible for an income deduction.
Qualifying Investments
Provident Fund (PF) & Voluntary Provident Fund
Public Provident Fund (PPF)
Life Insurance Premiums
Equity Linked Savings Scheme (ELSS)
Infrastructure Bonds
Pension Funds
NABARD rural bonds
you are true,
but i think can i claim deduction of my mutual funds investment
which is around 70 k via SIP every month
I have some of them are tax saving funds which have three years lock in perioud
i know i can claim those investmenet for tax saving . but want to know for other mutual funds investments too.
also if u can give with limit of saving as how much under including all applicable section can be saved .
thanks
CAclubindia
