Non taxable money

Tax queries 648 views 2 replies

suppose if i have Rs 10000 money as tax payable per a year.

How can i make this money as non taxable?

whether i need to make any investments or any ways i can save this money?

any suggestion is accepted,my concern i dont want to make this money as taxable.

Replies (2)
Dear Rajesh,since you want to save tax of Rs. 10000 (you are falling in 10% slab,assumimg that you want to save your entire tax liab of Rs.10000),you need to invest Rs 100000(10000* 1 00/10) in invst eligible for deduction u/CH VI A(For e.g -Lic,infrast bonds,PPF etc.)

if u r having any agricultural property  you can please show such excess income as agricultural income as 10000 is not a big amount

or

u can opt for helth insurance and claim deduction u/s 80D

I think if you cannot hide this 10,000 income you will have to pay Rs19,000 as tax


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