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.
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.
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.
CAclubindia
