Asso.prof.(commerce & Management) Pg
Maulik Dave
Hr Professional
+1 Other

Iam in a private company in chennai with a gross annual salary of 480000 plus
For 2013-14 I had to pay a nett tax of RS 15200.I mentally prepared to pay 3200 as tax,
Inspite of LIC policies PPF Education Loan repayment my tax comes to 15200 for the year/
I have a question
What I have to save or invest to reduce the tax to 3200,,i mean what should I do for avoiding this 12000 as tax
I would appreciate your reply
17th June 2014 From India, Madras
@ Vasudevan_n
Kindly refer the link given below & refer my reply given to Ms. Barkha.
Feel free to revert for further clarification.
Thanks & Regards,
17th June 2014 From India, Ahmedabad
Dear friend,
It is not possible to incur iT totally, however you can minimize it by utilising the available exemptions, but you should satisfy the prescribed conditions and within limits. Govt. also need some money to spend on some schemes and yield to scams, istn't. Consider the items shown in the attachments might, help you, I know you know these already and would have tried them.
18th June 2014 From India, Bangalore

Attached Files
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File Type: doc tips to save tax.doc (39.5 KB, 603 views)
File Type: doc Exemption on Salary Components.doc (120.5 KB, 323 views)
File Type: docx Tax Planning Tips.docx (16.5 KB, 219 views)
File Type: docx SOME OF THE TAX SAVING SAVINGS.docx (16.8 KB, 235 views)
File Type: xls IT Calculator-Section wise Deductions.xls (24.5 KB, 307 views)

Apart from what other forum members has suggested you, it is too late now to invest in anything to save the TDS which is deducted. Your employer must have filed their TDS return and even to claim refund your investment would have affected on or before 31st March 2014.
For coming year invest it in any housing property if interested.
28th June 2014 From India, Ahmadabad
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