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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling
 Income-tax (5th Amendment) Rules, 2018
 Last-minute tax tips for late filers
 What demonetisation did to tax collections
 Income–Tax (Fourth Amendment) Rules, 2018

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 2018 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