a salaried employee is predicting tax liablity of Rs2000 in AY2011-12 after deducting 120000 u/s 80C & 35000 u/s80D.can anyone pls suggest any other investment under chapter VIA(relevant section) through which tax liablity can be reduced to nil.client is in 10% tax bracket.there is no other income?
1 Replies
(Guest)
Click on the links given below:
Allowable Deductions from Gross Total Income
Deductions allowable under various sections of Chapter VIA of Income Tax Act
- Under section 80C (Various investments)
- Under section 80CCC (Premium for Annuity plans)
- Under section 80CCD (Contribution to Pension Account)
- Under section 80D (Medical/ Health Insurance)
- Under section 80DD (Rehabilitation of Handicapped Dependent Relative)
- Under section 80DDB (Medical Expenditure on Self or Dependent Relative)
- Under section 80E (Interest on Loan for Higher Studies)
- Under section 80G (Various Donations)
- Under section 80GG (House Rent Paid)
- Under section 80U (Employee suffering from Physical Disability)
- Under section 80RRB (Royalty of a Patent)
Recent Topics
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
Related Threads
CAclubindia
