wat r the different ways other than life insurance
2007-03-19 07:40:02 · 6 answers · asked by ravishing gemini 1 in Business & Finance ➔ Careers & Employment
Other ways would be
1.investments which come under 80c (i think).. for investments you call ICICI Pru..or HDFC Mutual funds...kotak etc..
2. HRA... if you are in rented house submit you rent receipts... You can always buy a rent receipts book in a stationary shop..fill it and get signed by someone..that's it
3. Medical bills..... you can submit your's and your dependent's medical bills..
4. If you have taken house loan... you submit them as well.
Apart from all these things you HR can help you in tax planning. or you can consult a CA.
2007-03-19 08:01:52 · answer #1 · answered by Kittu 1 · 1⤊ 0⤋
Since you started earning only since last four months, your tax liability will be limited for 2006-07
Further being a female, you may not have to worry about taxes this year if your annual earnings are within Rs 5 lakhs.
However, you could do well in planning right from now.
If you have already identified investments in tax saving instruments like insurance products, ULIPS etc...then defer the investments by another month so that you get the benefit in the next financial year... as your current financial year will anyway not presumably attract tax
There are a number of methods including investments in insurance, ULIP, housing loan etc to plan tax for the future
2007-03-22 11:36:23 · answer #2 · answered by S Kartik 2 · 0⤊ 0⤋
1. Put each month 3000 Rs a month in PPF ( 12 X 3000) = 36,000 Rs / year
2. Go for Systematic Investmaent plan of ICICI tax saver and there are lot more..... Put each month 2500 Rs so again 30000 Rs a month.
3. And rest34000 Rs ur premium of LIC policy.....
This gives total 1,00,000 Rs non taxeble.
If u r earning a good salery then go for Home loan then u don't have to pay single money for tax. My brother has buy one flat of 15 laks.....and he earns 10 laks Per annum. he pays 0 Rs. Tax....Howz that my dear.
2007-03-19 15:23:19 · answer #3 · answered by handsom_from_pune 2 · 1⤊ 0⤋
Depends in which tax bracket you fall in. Since you have not given any income details, if you are in the 30% bracket then you can invest in ELSS mutual fund schemes. If you are conservative then besides your PF you can invest in PPF and Tax saving bank deposits.
2007-03-20 02:48:55 · answer #4 · answered by Santosh 3 · 0⤊ 0⤋
INVESTMENT IN EQUITY LINKED SAVING SCHEMES IS GOOD TO YOU. THOUGH THE LOCK IN PERIOD IS THREE YEARS, THE RETURNS WILL BE GOOD ENOUGH. SBI MFs 'MAGNUM TAX GAIN' & HDFC MFs 'TAX SAVER FUND' ARE TWO GOOD SCHEMES TO START WITH. YOU CAN TAKE 'SIP' SYSTEM. THAT IS SYSTAMATIC INVESTMENT PLAN, WHERIN YOU CONTRIBUTE SOME FIXED AMOUNT EVERYMONTH INTO THE SCHEME. THE AMOUNT INVESTED IN ELSS SCHEMES IS COMPLETLY EXEMEPTED FROM I.T. (UPTO AN AMOUNT OF RS. 1 LAKH P.A. INCLUDING YOUR OTHER APPROVED SAVINGS) & THE RETURN YOU GET IS ALSO EXEMPTED FROM I.T.
2007-03-19 22:58:06 · answer #5 · answered by arpita 3 · 0⤊ 0⤋
the best way dont plan dont pay
2007-03-19 15:07:53 · answer #6 · answered by sachin cool 2 · 0⤊ 0⤋