Income tax query

Sahil Arora (Student) (190 Points)

17 November 2014

I have a client which has to pay Rs. 1,06,000 as tax

Tds deducted :- Rs. 87,000

Tax to be paid after all int. is Rs. 19,000

Please suggest me some way to make minimize his tax amount !!!

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Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
Replied 20 November 2014

The only ethically and widely used option seems to be to use section 80C if there is scope and time left.

Thanks,

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Mihir (Wealth Manager) (5293 Points)
Replied 20 November 2014

If it is for the FY 2014-15, then yes, invest in PPF, NSC, 5-year FD, etc to save tax.

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