DEDUCTION OF INCOME TAX

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  1. Sir,
    my annual income is 5,50,000 rs.
    and home loan paid is 1,80,000 including interest 30,000
    lic policy 25000 rs
    pf- 25,000
    even though my IT deduction is 9500.
    please, suggest to save income tax deduction.....
     
  2. Shishir Nayak

    Shishir Nayak Member

    You can Invest in Rajiv Gandhi Equity Saving Scheme“(RGESS) u/s 80CCG ,exclusively for the first time retail investors in Securities Market. This Scheme would give tax benefits to new investors who invest up to Rs. 50,000 and whose annual income is below Rs. 10 lakh.
    The maximum Investment permissible under the Scheme is Rs. 50,000 and the investor would get a 50% deduction of the amount invested from the taxable income for that year.
     
  3. Shishir Nayak

    Shishir Nayak Member

    After this deduction also you have to pay nearly Rs.6000 tax. I will request you to pay this little amount for better India
     
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