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I am selling my apartment building I have owned for nearly 4 years. Are my options to buy a new property or can I use that money to improve my home. Or does that not offset the gain.
Also,
... |
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| I'm 17, a college student, work part-time (15hours week) and I'm getting taxed for some reason. I shouldn't be getting taxed should I? How do I get my money back?... |
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vijay | How to save income tax? Please help? |
Hello All,
I need to save income tax. I need to save the tax, so that i can draw the maximum salary in cash. Is there anyway.. Please help.. My ctc is 250000. Which is the best option and structure so that i can submit the tax proof, i have not invested in anything. i can submit medical bills and House rent bills, apart from that, what can i do?
Additional Details
Please explain me in simple sentences and words, because i dont understand the words used in Income tax |
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celtic
|
Sorry i would more information ,certain occupations you can claim you medical bills house rent if you work from home price of buying computer and programmes up to £15;00 a week for your wife or partner as a casual bookkeeper your vehicles tax and petrol ,if i knew your job i could give you more. |
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apnabhan
 |
Your tax now would be Rs.24,720/-. You are eligible to avail Rs.1,00,000/- under section 80C and Rs.15,000/- under section 80D
Eligibility for 100000 deduction
1. Your PF amount (i.e 12% of your basic)
2. LIC or other Insurance premium paid
3. Housing loan principal amount repaid
4. If you have children you can claim their Tution fees (College or school fees)
5. You can invest in Mutual fund ELSS scheme or PPF scheme or NSC
Eligibility for 15000 80D
Pay a medical insurance premium maximum upto 15000/- p.a
Other exemptions:
Presently your House rent receipts can be upto 60% of your basic. So that you can avail maximum deduction in your HRA
Your medical bills can be upto Rs.15000/- p.a
You can also avail 80-G deduction for donations paid to registered charitable institutions. |
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Sweet M B
 |
don't get tensed as there are many ways to reduce ur tax, u can gain tax benefits by showing some donation like donation to temples n relief funds, etc. but they should be govt. recognized....,
n don't worry u can easily get these slips 4 anywhere without paying any donation or by paying a little amt. but that show that donation up to 10% of ur salary i.e. 25000 as u vl not get its benefit over it...
2) As per 80CC of income tax act, u can contribute a little sum of ur salary for ur future benefit, i.e. as pension. u vl get full deduction on it up to 1,00,000.
According to sec 80D if u r paying any kind of medical insurance premium 4 urself, spouse, dependent parents, dependent children then u can claim deduction up to 15,000 n if u r a senior citizen then up to 20,000 (but remember u have to pay the premium by any mode other than cash)
3)according to sec 80GG, if u r not getting any kind of HRA or RFA (Rent Free Accommodation) but still the employer is paying u rent then u can claim deduction up to 2000 per month i.e. 24,000 p.a.
4) if u r paying premium for urself, spouse or children then u could claim a deduction of up to 1,00,000 or 20% of the policy amount
other than this u can also enjoy the benefits of exemptions on allowances...., n the great thing is u don't need to break any income tax rule for this
if u could give me some more details then i may give the whole working of ur salary which vl surely b beneficial 4 u....
details means ur pay slip, ur investments n ur major exps. like house rent etc. |
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Fancy That
|
first, you need to let people know what country you live in. |
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ashu
|
bro
U have to invest in any bond or insurance policy which gives Tax rebate. Medical biils and house rent bills are not that much useful
Or u should consult CA(Charted Accountant) he knows how to save tax n tells u |
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manikandan n
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You can take mediclaim policy, life insurance policy, It is good for saving tax and also for your future. You may invest in house so that you will get tax benefit on your housing loan. |
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amit k
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There are a lot of avenues where you can save tax.
Read this for ways of saving tax this year
http://www.itrust.in/jsp/financial-planning/article/How-Can-I-Save-Taxes-This-Year.jsp |
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♥ Embracing Optical Freedom ♥
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You can speak English so this question makes sense. What are you even asking? |
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