Archive for August 2009
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Save Income Tax : House Rent Allowance
If a portion of your salary is marked as House Rent Allowance or HRA and you are paying rent, then submit rent receipts. The house should not be in your kids, spouses or your own name. As this is the biggest saving from the tax burden, it helps if you exchange houses with relatives/friends [...]
Schemes for Income Tax Saving in India
* Public Provident Fund (PPF)
* National Savings Certificates (NSC)
* Post Office Scheme (POS)
* Kisan Vikas Patra (KVP)
* Dividend
Public Provident Fund is a kind of scheme for Income Tax Saving in India. The minimum [...]
Save Income Tax : Section 80C and Section 80D
Section 80C Deductions
Section 80C of the Income Tax Act allows certain investments and expenditure to be tax-exempt. The total limit under this section is Rs. 100,000 (Rupees One lakh) which can be any combination of the below:
* Contribution to Provident Fund or Public Provident Fund
* Payment of life insurance premium
* Investment in pension Plans
* [...]
Life Insurance Plan as tax saving
It is always said that one should not look at the Life insurance plan as tax saving. We also suggest you the same thing.All life insurance plans gives you the tax benefit so you should always go for plan which is suitable to your life and your financial planning.You need not buy every year [...]
