what are other options for saving tax for me apart from LIC and kids tution fees

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  1. mitu07

    mitu07 New Member

    Respected Sir/Madam,
    My name is AMit kumar. I am working as software tester. My in hand salary is--84000/- (my package is 1065000/- Anum)
    I have shown investements as below:-
    LIC "Jeevan Anand Plan" ------96700/- Anum
    my kid tution fees ---------------30000/- Anum
    PPF account of -------------------40000/-Anum

    Do I have other option to save my tax, kindly guide?
    Apart from the above things, I searched on google that I can invest in NSC for five years through which I can save tax.
    Kindly guide me...

    I do not want to invest in Mutual Funds..

    Thanks
     
  2. CA vikash

    CA vikash New Member

    Hello Amit,
    Firstly, i hope you are aware that 80C deduction is maximum Rs 150000 permissible. And your investments which are LIC, PPF and expenditure such as tuition fees sums up more than Rs 150000.
    Hence investing in NSC is not agood idea because NSC will not bear any fruits for you in matter of tax savings.Your 80C deduction is already fully utilised.
    My suggestion is invest in NPS,where you can get extra deduction of Rs 50,000 apart from from 80C deduction, this way you dont have to invest in mutual funds.
    For more investment advice on tax savings and queries on any other matters, you may reach me at [email protected]
     
    mitu07 likes this.
  3. mitu07

    mitu07 New Member


    Thanks sir for your quick answer which is very valuable for me. Thanks a lot.
    But PPF as 40000 I have shown in my company. I have actually not invested in it. So what would be your sugestion here. Shall I go with NSC or NPS?
    Thanks
     
  4. ZED

    ZED Well-Known Member

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