Last week we discussed in detail the 80C tax deductions that an individual tax payer can take. But with over 10 options available, how do you decide which is the optimal instrument for you. This week we shed some light for you on suitable income tax deductions based on your age and stage in life. However, please keep in mind that these are suggestions only, and not customized advice based on your personal financial situation. Also, not all the below stages are exclusive to a certain age. Finally, may of these suggested instruments can be combined in value up to the annual limit of Rs 1 lakh for the tax year.
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| Tax Filing | Income from Salaries | Tax Deduction |
Comments
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Pawan Kumar said : 20/06/2011 |
No, You can't take the benefit in form PPF for Rs. 1 Lakh. Only upto 70000/- you may claim. |
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sourav dubey said : 05/02/2010 |
THE INFORMATION IS REALLY VERY HELPFUL IN CALCULATING THE INCOME TAX |
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RATAN said : 07/01/2010 |
Thanks alot for providing Incometax information in such a manner that even illitrate can also understand easily. Keep it up and request you to please give more and more info on such things which help public. Thanks Again |
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Maheshwar rai said : 08/09/2009 |
i am from salaried class income between 3-4 LAKHS PPFis Rs-177000/annually i am getting deduction of 1 lakh only May i get some more deduction by purchasing MF/LIC policy please guide thanks |
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shradha said : 21/03/2009 |
really nice |