Sakitram (NA) (189 Points)
16 August 2011
Hi,
I have a simple question about the investment.
Here is a scenario.
Total income: 2,00,000
No tax: 1,80,000
Balance: 20,000
If I invest this 20,000 in Share Market as a long term investment, will I have to pay 2,000 (10% of taxable income) as income tax or I can able to put this 20,000 in 80C section anywhere as an investment.
Thanks for the answer
Sakitram
CA PARAS BAFNA
(Practising CA )
(33428 Points)
Replied 16 August 2011
1. If you are going to invest Rs 20000/- in share market ?????
I will advise you not to save Rs. 2000/- by investing there even if you get tax benefit. (However you will not get any)
Because , out of Rs. 20000/- you may or may not get Rs. 2000/- only ,
for which you had made such a long term investment.
(In share market investment -may become watse. )
2. To invest under the Schemes of Section 80C like NSC, PPF, LIP etc are the only ways to save tax.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
