Investment Declaration for Tax Benefits?

Question

Do i need Investment Declaration for Tax Benefits FY'06-07, as i joined one MNC, based in India Mumbai and Joining date was 11th dec 2006

Answer 1

yes - as the financial year ends in march. You need to do this before march end...preferabely in feb

Answer 2

i could no longer inform you easily that i admire earnings tax. in my opinion, that's unfair, incredibly decrease than this Republican regime, because of the fact the working family individuals has no longer been helped on an analogous time as the richer households have become the tax alleviation. A equalized tax it relatively is levied on all people in spite of earnings or wealth could be honest. There could desire to be no loopholes that uncomplicated people do no longer understand yet that extensive corporation hire costly legal experts to discover. There could desire to be basically one alleviation...extensive scientific charges, which will desire to directly be deducted from the tax invoice. yet another element. firms that placed up dummy companies in 0.33 international international places, then proceed to do a tax-unfastened organisation right here interior america should not be allowed. And the commerce rules could desire to be rewritten to furnish a honest shake to the export of yank products. it quite is pipe dreaming, of direction, because of the fact the subsequent era and the subsequent will nonetheless be paying monies borrowed from China and different international places for the conflict in Iraq. we've considered a scientific looting of a as quickly as-wealthy treasury, and we can could desire to pay the piper at last.

Answer 3

first of all u have to seen that u r income going above Rs.1 lacs if above limit then u have to give the declaration what is u r investment for saving the tax.

that deduction get upto Rs. 1 lacs U/s 80c of IT Act 1961

any thing else let me know

Answer 4

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

Answer 5

You will have to disclose the investments ( tax savings ) to your employer for computation of taxable portion from your salaries income.
Otherwise the Employer is bound by law is liable to deduct taxes from your salaries and deposit it into the govt treasury.

For further information and savings ideas you may contact us [e-mail]

Answer 6

You have to declare your investment for tax benefits.