Where to invest


My Name is mansoor, and i work in IT industry, in mumbai.

my salary is 8L PA.

where and how should i invest to save taxes, i have two school going kids, and i live with my parents.


Mansoor Ali A

asked Mar 27 '12 at 15:22 by mansooralia 112

answered Mar 27 '12 at 17:23 by Pankaj Batra 5.2k320

thanks for the quick response, Have two more queries: 1. If i invest 1 lac, how much tax is deducted from the amount that i have to pay as tax. 2. in the xl that you have uploaded, for 2012-2013 tax calculator, 30% is to be paid on 15th of september, 2012, does it mean i have to pay just that much of amount for the entire year, or just an installment type. also my query was how much to invest in which type, am totally novice. thanks, mansoor ali a
(Mar 27 '12 at 17:27) mansooralia
If you invest 1 lakh into 80C investments, your taxable income would be reduced by 1 lakh and hence it would lower down tax liability. As per advance tax rules, around 30% of total year's income tax should have been paid by 15th Sept, 60% by 15th Dec and rest by 31st March. Failing to which, there can be interest penalty payable u/s 234C. How much to invest in which type depends on your future needs and risk appetite. If you want safe returns in short term, 5 year fixed deposit is one option. If you want to invest for shortest term, tax saving mutual fund is option. If you want for family protection, term insurance is good choice. If you want to save for retirement/child education, NPS and PPF are good options.
(Mar 27 '12 at 17:56) Pankaj Batra

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Asked: Mar 27 '12 at 15:22

Seen: 2,025 times

Last updated: Mar 27 '12 at 17:56