I earn 75000 permonth (25000 HRA, 50000 Basic), the break down is as follows 70000 invested in PPF 30000 to be invested in 5 yrs fd 27000 Rent to be paid permonth how much tax wud i pay and how much more can i invest and save tax asked Mar 30 '11 at 09:53 by Anonymous 1●1●1●1 |
Hi You have to pay tax but u can minimize the tax liability as given below: Tax Liability under existing savings i.e Rs. 1,00,000/- Tax Amount will comes Rs. 40,376/- If you invest as given below:
1) Long term infrastructure Bonds (Ded. U/s 80CCF) Rs. 20,000/- (Max. Limit)
2) Medical Insurance Premium (Ded. U/s 80D) Rs. 15,000/- Tax liability under new saving i.e Rs. 1,35,000/- (Rs. 1 lakh + Rs. 35000/-) Tax Amount will Comes Rs. 33,166/- answered Apr 02 '11 at 04:21 by sagar 401●2 |