Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

How much investment can we made in a financial year

Anil Kumar (Proprietor) (107 Points)

21 February 2014

how much Investment can we made in a financial year. my income is Rs. 5 lacs in a financial year. i can avail benefit of 1 Lac under 80C. Rest income is 4 lacs & can i invest in 1 or 2 lacs in bank FDs or post office etc to reduce the tax?

I am not very sure about this. please suggest me

thanks

Reply
Follow
Share

7 Replies

tushar (PAST ARTICLE) (246 Points)
Replied 21 February 2014

U can invest 100000 in 80 c I.e lic , 5 yr fd, nsc ,etc

Upgrade to CAclubindia Pro. Subscribe Now!

Mihir (Wealth Manager) (5293 Points)
Replied 21 February 2014

Need more details about your income or break up of the income ie basic, DA, allowance, perquisites, other benefits etc. Rs. 15,000/- on mediclaim u/s 80D.

CA saloni (CA Job) (26 Points)
Replied 21 February 2014

You can invest any amount in FD but max ded u/s 80C will be ,100,000/- only & FD should be of 5 yrs

1 Like

Anil Kumar (Proprietor) (107 Points)
Replied 22 February 2014

Thanks to all.

Please let me explain about my income & profession:

I am individual and having proprietorship business and also getting salary from part time job

As per balance sheet, my total net profit is 5.5 lacs in this financial year in which 2 lacs is department slab & 1 lac is under 80C (NSC & tution fees etc.). now my taxable income is Rs. 2.5 Lacs. If i invest 1 or 1.5 lacs in bank fixed deposit or post office (non tax saving) then can i reduce income tax on this investment. I have balance in bank accounts & cash in hand.

Thanks...