• I want to reduce my tax

Hi, I want to reduce my tax deductions in this year. 
please help me on this.
Asked 5 years ago in Income Tax

Invest in tax savings funds

Rajkumar Wagh
CA, Kolhapur
45 Answers

Not rated

Hi,

 

Are you salaried employee or businessman or something else?

 

Please elaborate further for proper consultancy.

Payal Chhajed
CA, Mumbai
5188 Answers
288 Consultations

5.0 on 5.0

Hi

Please let us know your different sources and quantum of income so that we may help you with the tax planning.

Lakshita Bhandari
CA, Mumbai
5687 Answers
908 Consultations

5.0 on 5.0

Hi

Let us know what is your source of income,How much is Income for the year.

Accordingly we can make Tax planning.

 

Swati Agrawal
CA, Mumbai
1146 Answers
7 Consultations

5.0 on 5.0

Hi

please share your income details after knowing this we are able to help you 

Lalit Bansal
CA, Delhi
773 Answers
61 Consultations

5.0 on 5.0

Dear Sir,

 

Please share your income details like source of income, amount of income etc for appropriate advise.

Karishma Chhajer
CA, Jodhpur
2450 Answers
29 Consultations

5.0 on 5.0

What are your sources of income are you a salaried employee or a professional or businessman?

In case you are salaried employee you might be having LIC, EPF etc so if you are having margin you can invest in ELSS mutual funds.

If you are not salaried employee then you are free to invest in many places and save tax, I would suggest you to invest in LIC, ELSS and PPF some amount in each so your amount is not blocked in one type. Secondly if you have a house loan you can even take deduction of its principal amount.

Thirdly you can also go for medical premium which will also give you some deduction in addition to above investments.

Also you can invest some amount in NPS to claim some additional deduction.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Naman Maloo
CA, Jaipur
4265 Answers
96 Consultations

5.0 on 5.0

Hi,

- Please let us know the different sources of income earned by you during the F.Y. to give you accurate advise.

 

Thanks

Vivek Kumar Arora
CA, Delhi
4825 Answers
1030 Consultations

5.0 on 5.0

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