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10 tips to save up to Rs. 1 lakh through intelligent tax planning

1. The annual deduction for medical insurance has been raised up to Rs.35,000
2.  Loan repayment for self-occupied house gets you a deduction up to Rs.2.5 lakhs
3. You can save taxes by investing up to Rs.1 lakh in a pension plan
4. Life insurance premium entitles you to a deduction up to Rs.1 lakh
5. You can save taxes by investing Rs.1 lakh in the equity market via ELSS
6. Interest paid on an Education Loan is deductible without limit
7. School tuition fees paid for your kids' education is deductible under 80C
8. Stamp duty and registration fees paid towards a house is deductible under 80C
9. If eligible, you can get a deduction for rent up to Rs.24,000 under 80GG
10. You can claim HRA exemption by living in your spouse's/father's house and paying rent to them

Comments

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Nithya said : 07/07/2010	Great Tips...Very informative..
vitthal said : 28/06/2010	what is 80GG AND 80GGA
ankit masiwal said : 01/05/2010	well , you can claim HRA in your own house . what u all need to do is , you need to treat your father as your landlord but make sure your father need to show this rental income in his return. you can have a rent receipt book from any book shop just fill that in your name and show it your employer.
Shruti said : 29/04/2010	If you are living in your own house than how can u claim HRA?
sunil kumra Rajput said : 25/03/2009	(1)You can save taxes by investing up to Rs.1 lakh in a pension plan (2)Life insurance premium entitles you to a deduction up to Rs.1 lakh (3)You can save taxes by investing Rs.1 lakh in the equity market via ELSS are sombody can save Rs.3 lakh in above mantion Investment
sunil kumar Rajput said : 25/03/2009	TDS Rate of Deduction of F.Y.2008-09,any TDS Relaciton Know .
vipin kumar said : 24/03/2009	This programme very knowledges i learn very information
gurjeetsingh said : 04/03/2009	Pprogramme is very informative and usefuk in view vof tax plannina and calculations