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Hemant

Hemant Bokil  |77 Answers  |Ask -

Financial Planner - Answered on Jan 27, 2023

Hemant Bokil is the founder of Sanay Investments. He has over 15 years of experience in the field of mutual funds and insurance.Besides working as a financial planner, he also hosts workshops to create financial awareness. He holds an MCom from Mumbai University.... more
Santosh Question by Santosh on Jan 26, 2023Hindi
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My salary is 85k, take home is around 78k after tds deduction, my kids education is over like they are in 4th year of degree, this year there will be no educational fees, but i have some emi to be cleared which is not under taxation, small amount of rent, lic, and medical insurance total of under 2lacs per year, how do i save tax?

Ans: Hi Santosh kindly check following points

Check if sec 80 C benefit Is complete, means you are saving full Rs 1.5 lacs in insurance or tax saving mutual funds or tax saving bank deposits or ppf etc.

Check if Sec 80D benefit is complete, means that you are saving Rs 25000 for self n spouse n kids below 25 years and Rs 50000 for dependent senior citizen parents

Check if sec Sec 80 CCD(1B) is utilized full by investing in NPS, max Rs 50000

Wuth these 3 sections max tax saving can be done
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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