Dear All,
My one Friend is received Rs. 300000/- on the basis of Providing Professional Service during the last year. Now he want
to save his tax. Please provide me on which basis he can minimize his tax liablity . He is also not maintaining his book
of Accounts. Please urgent reply.
thanks
Parmod
As the income is Rs. 300000, he can claim expenditure in regard to earing that income.... then he can deposit a maximum of Rs.70000 in single public provident fund a/c.. doing this will reduce his income less than Rs.160000, hence he need not pay returns.
CAclubindia
