hi, can anyone tell me the salary scale on which the tax should be deducted and any way by which we can save our tax deduction thanks reply asap
From India, Delhi
Hi,
TDS depends on your salary. In case of female employees salary upto Rs 145000 is exempted while in case of male employees its 1,10,000. it means if a person salary comes in this limit, no tax deduction will be made. A further investment of Rs 1 Lac will help in lessening the tax. These investments should only be made under sections of IT Act...If some TDS has been deducted wrongly, it can be reversed by the Tax Authority during the time of return filings.
Attached is the Tax Rate for this F.Y.
Regards
Abhi

From India, New Delhi

Attached Files
File Type: doc tax_rates_f.y._2007-08_418.doc (34.5 KB, 256 views)

You can save tax by declaring / submitting rent receipts for HRA received.
if you have any housing loan you can claim the benefit for the same under section 24 for interest upto Rs.1.5L and Rs.1L for Principal under section 80C.
if you have any further queries you can let us know.
regards.......Navroz

From India

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