06 December 2007
hi sir, i have a client of salary he has withdraw the salary of rs, 65000 p.m. how can i make the tax planning for that person please make the tax suggestion to the extent of lower tax liability
As the annual income comes to Rs.7.80 Lacs. You may do the following for the purpose of tax planning:
(i) Consider HRA (ii) Invest upto Rs.100000 u/s 80C under the various investment schemes aavailable such as PPF/NSC etc. (iii) Puchase a house property and take home loan to get the benefit of Interest on Home Loan. (iv) May go for higher education and take loan for higher education and claim benefit for EMIs paid during the year. (v) Take mediclaim u/s 80D (vi) Make donations u/s 80G
The above list is inclusive and not exhaustive. There are n number of other tax planning areas.
CAclubindia
