my friend's annual income is 7,20,000/-
please suggest me how he save his money ???
3 Replies
CA Sayli Jain
(CA)
(173 Points)
Replied 25 February 2015
There is deduction under chapter VI A of income tax act.
1. Section 80C : You can invest upto Rs 150000 in LIC, fixed deposit lock in 5 years period, etc, 2. You can take benefit of mediclaim upto Rs 15000 + Rs 20000 in case of your parents if they are senior citizen i.e. age above 60 years or in other case Rs 15000
please let me know the source of income so that i can suggest you more.
Thank you.
Regards,
CA Sayli Jain
sayli12345 @ gmail.com
avinash singh
(Student)
(122 Points)
Replied 25 February 2015
| Originally posted by : CA Sayli Jain | ||
 |
There is deduction under chapter VI A of income tax act. 1. Section 80C : You can invest upto Rs 150000 in LIC, fixed deposit lock in 5 years period, etc, 2. You can take benefit of mediclaim upto Rs 15000 + Rs 20000 in case of your parents if they are senior citizen i.e. age above 60 years or in other case Rs 15000 please let me know the source of income so that i can suggest you more. Thank you. Regards, CA Sayli Jain sayli12345 @ gmail.com |
 |
Amt received agst salary .
Mihir
(Wealth Manager)
(5293 Points)
Replied 01 March 2015
If salaried, then more details like basic, hra, allowances, etc may be available to be able to give accurate plan.
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