Income tax query

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2012 my total salary is of Rs 220000/- in A.y. 2012-13, Hence i come tax Liability, What Provision should made to reduced the tax liability

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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03 January 2012 Provisions only, will not be sufficient. You have to invest by making payment. LIC, PPF, NSC, choose any of the three and invest up to Rs. 40000/-
.

Rabindra Kumar Sahu

Rabindra Kumar Sahu (Expert)
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06 January 2012 You have to first verify the professional tax and other and other deduction u/s 10.Then the rest amount i,e(220000-PT-u/s 10-180000) will have to invest to relief from Income tax.

Thanking You
R K Sahu

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