Puja Gupta (CA) (43 Points)
15 December 2010
Devendra
(Chartered Accountant)
(4775 Points)
Replied 15 December 2010
Hi Puja,
Following are the options that you can suggest to your client : -
1) He should make investment u/s 80C by taking a LIC Policy. Also he can take out a medical Insurance premium and the premium paid for such medical insurance is deductible u/s 80D.
2) Invest in Public Provident Fund. (Maximum up to Rs. 70000)
3) Invest in NSC (National Savings Certificates) or KVP (Kisan Vikas Patra).
4) Invest in Post Office Savings Scheme.
5) He can claim deduction of principal amount paid for loan towards construction of house. (Deduction can be claimed only when the house is fully constructed)
6) He can give receipts of Donations given and claim deduction u/s 80G.
7) He can claim deduction of the Tuition Fees paid for his children.
Regards,
Devendra Kulkarni
CA. Praveen Gupta
(CA )
(346 Points)
Replied 15 December 2010
Devendra
(Chartered Accountant)
(4775 Points)
Replied 15 December 2010
YOUR CLIENT CAN INVEST IN INFRA STRUCTURE BONDS U/S 80CCF AND GET AN ADDITIONAL DEDUCTION OF TAX UP TO RS. 20000.
REGARDS,
DEVENDRA K
binit kumar jindal
(chartered accountant)
(129 Points)
Replied 16 December 2010
he should report to his employer about his savings .
Santhosh Poojary
(SIEMPRE AHÍ PARA TI)
(15607 Points)
Replied 16 December 2010
Very Well Explained by Devendra.
Thanks.
Puja Gupta
(CA)
(43 Points)
Replied 16 December 2010
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
