Income tax???
This query is : Resolved
25 March 2009
Respected experts
My mother's income has exceeded the maximum exemption limit which is not chargeable to tax i.e. Rs. 180000. Please suggest some tax-saving options available to us which can be utilized at this point of the FY. Please guide.
Thank you.
My mother's income has exceeded the maximum exemption limit which is not chargeable to tax i.e. Rs. 180000. Please suggest some tax-saving options available to us which can be utilized at this point of the FY. Please guide.
Thank you.
25 March 2009
You can choose any savings covered u/s 80C upto Rs.100000 according to your requirement.
25 March 2009
I think PPF or Nsc will be better
26 March 2009
Better go for NSC. PPF blocks your money for a longer time.
26 March 2009
First thanks to all the above experts.
Please also tell the procedure of investment in NSC?
Thanks
Please also tell the procedure of investment in NSC?
Thanks
27 March 2009
To buy an NSC, just approach any post office.
27 March 2009
To open a PPF account, you can drop by a State Bank of India branch. you do not have to have an account with them.
You can also ask your nationalised bank where you have an account if they are authorised to open PPF accounts. You can also approach the head post office in your area. If that is inconvenient, ask your local post office (selection grade sub post offices are allowed to do so).
You can also ask your nationalised bank where you have an account if they are authorised to open PPF accounts. You can also approach the head post office in your area. If that is inconvenient, ask your local post office (selection grade sub post offices are allowed to do so).
27 March 2009
The minimum amount you have to put into your PPF account in a year is Rs 500. The maximum you can put is Rs 70,000 per year.
With NSC, the minimum amount is Rs 100. Here, is no upper limit on investment.
However, NSC is sold in denominations of Rs 100, Rs 500, Rs 1,000, Rs 5,000 and Rs 10,000. So, if you want to invest Rs 30,000, you will have to buy three certificates of Rs 10,000 each.
With NSC, the minimum amount is Rs 100. Here, is no upper limit on investment.
However, NSC is sold in denominations of Rs 100, Rs 500, Rs 1,000, Rs 5,000 and Rs 10,000. So, if you want to invest Rs 30,000, you will have to buy three certificates of Rs 10,000 each.
29 March 2009
I agree with Taranjit Singh.
31 March 2009
Ok thanx dear.
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