2006-12-19 04:58:25 · 7 answers · asked by DEEPAK J 1 in Business & Finance ➔ Taxes ➔ India
First you roughly calculate how much you are paying for tax. Depending on that you invest in different types like Life Insurance, Mutual funds & Shares(only if you know about shares)
2006-12-19 05:08:39 · answer #1 · answered by Manju S 1 · 0⤊ 0⤋
Under the income tax acts if an individual has invested in any shares or tax saving schemes then under the 80 C act and 80 DD you are eligible for a exemption of Rs. 1 Lac from your income which is non taxable.
P.S: Invest in Tax Saving Mutual Funds for this benefit
2006-12-19 13:08:29 · answer #2 · answered by Sumanth 3 · 0⤊ 0⤋
About Me
Member since: 17 December 2005
Total points: 1,539 (Level 3)
Tax Facts for Individuals 2006-07
This was prepared by HSBC India.
Hope that helps
http://www.hsbc.co.in/1/PA_1_1_S5/content/website/pdf/taxfacts200607.pdf
2006-12-21 07:03:41 · answer #3 · answered by pinkfreud(aruninte.blogspot.com) 3 · 0⤊ 0⤋
Refer to www.allindiantaxes.com
for all the tax benefits admissible.
2006-12-20 07:04:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Except the first answer, rest of the 3 answers are good answers for you.
2006-12-21 03:00:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
investment in mutual funds or housing loan or insurance
2006-12-22 07:23:58 · answer #6 · answered by manish b 2 · 0⤊ 0⤋
Earn less money. As you make less money, you pay less taxes.
2006-12-19 13:01:17 · answer #7 · answered by jseah114 6 · 0⤊ 0⤋