Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: cpt :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: empanelment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD
News Headlines »
 CBDT releases Income Tax Return statistics for last two fiscals
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers

Top Income tax picks
March, 30th 2009

March 31, is the last date for filing income tax returns for the assessment year 2008-09.

Most of you must have already filed your returns, while some may be busy doing some last-minute number crunching.

But if you are like 25-year-old Satish, who joined a media firm a year back, words such as taxes, investments and returns may seem alien to you.

Satish is excited about his new-found financial freedom his company pays him well. He is busy with his deadlines on weekdays and the weekends just zip by at parties, malls or multiplex.

Who has the time for boring taxes!

But taxes and investments are a reality in a professionals life. Theres no running away from them.

To make your job easy we list here the top five investment options so that you save money and save on taxes.

Under Section 80C of the Income Tax Act, 1961, individuals can get a maximum deduction of Rs 1 lakh from their gross income if they invest a similar amount in tax-saving schemes.

Innumerable investment options are available to tax payers, who can pick particular investments or a combination of certain schemes to claim their tax rebates.

Tax payers are free to decide in what ratio they want to invest in the available instruments.

They can invest the whole Rs 1 lakh in a particular scheme or divide the money in two or more schemes.

However, they can invest a maximum of Rs 70,000 in Public Provident Fund.

Here are the top five:

Payment of premium on a life insurance policy bought to insure the life of the assessee and other members in the family

Contribution to Provident Fund and Public Provident Fund

Fixed deposits of a minimum five-year tenure with a scheduled bank or a term deposit for five years with a post office

Equity-linked savings schemes having a lock-in period of three years

Investment in Senior Citizens Savings Scheme

The best combination for most tax payers would be investment in life insurance policies and equity-linked savings schemes.

A Hindu Undivided Family can also go for this combination.

For a Hindu Undivided Family, the life insurance premium can be paid for any member of the family.

Thus, different insurance policies can be taken for different members of the family. However, a Hindu Undivided Family is not permitted to open a Public Provident Fund account.

The Senior Citizens Savings Scheme enjoys an interest rate of 9 per cent per annum and is very attractive for senior citizens.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions