2007-01-28 03:39:22 · 5 answers · asked by sandy 1 in Business & Finance ➔ Taxes ➔ India
It totally depends upon your status of incoming income group. However, you can login " www.incometaxindia.gov.in " or " www.moneycontrol.com " to know more.
2007-01-28 03:58:32 · answer #1 · answered by Anonymous · 0⤊ 0⤋
you have a exemption upto 1Lakh rupees under Section 80C YOU CAN SAVE IN THE FOLLOWING METHORDS
Contribution to Provident Fund or Public Provident Fund (70000RS
Payment of life insurance premium
Investment in pension Plans
Investment in Equity Linked Savings schemes (ELSS) of mutual funds
Investment in specified government infrastructure bonds
Investment in National Savings Certificates (interest of past NSCs is reinvested every year and can be added to the Section 80C limit)
Payments towards principal repayment of housing loans.
Payments towards education fees for children.
2007-01-28 04:06:09 · answer #2 · answered by getonlinehelp 1 · 0⤊ 0⤋
The best option is to invest in the following manner:
For assessees capable of taking risk : Invest in Mutual Fund or Unit linked Insurance Plan
For others : Get Bank FDs
Upto Rs. 100,000/- in the current year.
Invest upto Rs. 10,000 in pension schemes of various Insurance co.
But i wou;d suggest you to Get the services of a good tax consultant as he is going to minimize your tax liability to the max possible extend. His fees is going to be lower than what he is going to save for you in taxes.
You can contact me at 9868977212.
2007-01-28 23:09:09 · answer #3 · answered by apurav a 3 · 0⤊ 0⤋
The most convenient option available is to invest in Bank deposits meant to qualify for deduction within an overall limit of Rs.1,00,000/-
2007-01-28 03:57:29 · answer #4 · answered by Anup M 1 · 0⤊ 0⤋
That depends on your status as to whether you are engaged in Business or Profession or you are a salaried person.Refer to www.allindiantaxes.com for all about tax.
2007-01-28 03:49:33 · answer #5 · answered by Anonymous · 0⤊ 0⤋