Vishwa2
Manager-finance
Ani_b2001
Service

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
How to minimise taxes on salaries
You can minimise the tax liability on salaries by investing in eligible investments qualifying under Sec 80CC.
The following are few investment options that qualifies as eligible investment upto Maximum of Rs. 1 lakhs per annum.
1. PF contribution
2. PPF investments
3. Infrastructure bonds
4. Mutual funds that are eligible under 80CC
5. Life insurance premium
6. Repayment of Housing loan principle.
7. PO deposits.
8. Tution fee of children
Apart from the above reimbursement of Medical Expenses upto Rs.15000 pa is exempted from tax.
Any premium paid for Medical insurance policy for Hospitalisation exempt upto Rs.15000.
Direct deduction is available for Housing loan interest upto 1.5 lakhs p.a.
If you are living in rented house and paying rent, you can get deduction under section 10 towards rent paid.
Rgds
Vishwanath

This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™