Income tax

Gurjeet Arora (Querist) 22 March 2010 This query is : Resolved
Dear All,

I am working in private sector . Approx annual package is Rs 6.5lakhs.

I will really appreicate if some one can guide me to save my tax.

or

Guide me some heads like basic etc in which I can save some tax.

regards,
Gurjeet Arora

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mahendrakumar (Expert) 23 March 2010
dear Gurjeet,

You can reduce your taxable income upto Rs.1,00,000.00 u/s 80cc by investing in Mutual Funds,Insurance premium,PF,Tuition fee of children,repayment of housing loan etc under one head or altogether one lakh.

Another Rs.15,000 could deducted from your taxable income u/s 80 d by taking a medical insurance policy.

The amount paid as interest on housing loan if availed is deductable upto Rs.1.5 lakhs.

soumitra basu (Expert) 02 April 2010
MOREOVER, YOU CAN PLAN YOUR SALARY AFTER CONSULTING WITH YOUR EMPLOYER BY DIVIDING THE TOTAL SALAY IN EXEMPTED ALLOWANCES. IF YOU ARE IN RENTED HOUSE YOU MAY CLAIM SOME DEDUCTION.

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Income tax

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