Originally Posted by email@example.com
Hi Basudeva Choudhury,
Please suggest me also, how i can save my salary every year 30000 i am paying for tax..my salary is 40000.
Kindly suggest at the earliest, my id
Section 80C allows a maximum limit of Rs 1 lakh across investments ranging from provident fund, PPF, infrastructure bonds, fixed deposits (5 years or more), NSC, insurance/pension plans, unit linked insurance, equity linked savings scheme etc. It also includes tuition fees of your children and the repayment of principal on your housing loan. The interest component on your home loan has a separate limit of Rs 1.5 lakh. Medical premia upto a maximum of Rs 15,000 qualifies for deduction, with an additional Rs 15,000 for parents.House Rent AllowanceMinimum of – 1. Actual HRA 2. Rent Paid – 10% of Basic 3. 40a% of Basic (Non-Metros) or 50% of Basic (Metros)Conveyance AllowanceRs 800 / MonthLeave Travel AllowanceTwo trips in a block of 4 Yrs Amount not exceeding Air Economy or Rail AC I Fare shall be for shortest distance and for a single destinationMedical ReimbursementRs 15,000 / Annum