Tax Saving for senior citizens
This query is : Resolved
28 June 2011
what is the best option for senior citizen to invest which reduces the tax liability??
senior citizen having income around 6 lakhs rupees,
income if from FDRs, MF, Shares and Bonds.
senior citizen having income around 6 lakhs rupees,
income if from FDRs, MF, Shares and Bonds.
29 June 2011
The best option is to invest in PPF because its risk free and also subject exemption in DTC also.You can invest upto 70000 and for the balance you can go for Mediclaim.This reply based on DTC provisions.
Message likes :
1 times
29 June 2011
she has already invested in PPF Rs.70000.
Any other option???
Any other option???
29 June 2011
Try for investments in 80CCF 20000.Moreover sell the shares and MF after 1 year so to get exempted from CAPITAL GAINS.Since dividend is tax exempt choose dividend payment option for mutual funds instead of choosing dividend re-investment option or growth option.
You can change the option now also in consultation with the MF agent or fund house.
But change the option only for one year old mutual funds only.
You can change the option now also in consultation with the MF agent or fund house.
But change the option only for one year old mutual funds only.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
