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Tax saver plan

Discussion in 'Investment Analysis' started by hamidabdui, Feb 20, 2014.

  1. hamidabdui

    hamidabdui New Member

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    i want help for build tax saver plan for 2014-2015.
    i am working in pvt ltd company. my monthly salary app.46000/-
    i am take a LIC 40,000/ YEARLY,CHILD SCHOOL FEE 15000/-
    RENT 9500/- MONTHLY
    SO,KINDLY GUIDE ME FOR SAVE MONEY FOR 2014-15
     
    hamidabdui, Feb 20, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    Tax saving plan for salary of 46,000 and I don't think you need any more tax saving plan but still can you please let me know the following.

    15,000 as school fee the assumption that 15,000 is the tution fee and not the total fee. Tution fee is the only part that saves tax and not other fees head.

    So your LIC policy is 40,000 as well and so now you are left with 45,000 from the limit of 100,000 under 80C.

    Your Salary is 46,000 per month and so it means you are paying some amount in PF and your contribution (not your employers contribution) towards the PF is also part of 80C and after deducting that numbers you will not be left with much but hardly 10k to 20k and so it makes much more sense to be investing that into one of the ELSS funds.
     
    shabbir, Feb 20, 2014
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