Friday, January 8, 2010

List of Tax Saving Instruments

This is tax saving time. Time to use different instruments to save Tax Liabilities. Quick sheet to see various instruments available to save tax:

HRA
  • Staying on Rent - Claim HRA exemption


    • Deductions from Total Income
  • Medical Insurance Premium - Individual, Spouse and Children (Sec 80D)

  • Medical Treatment/Handicapped Dependent (Sec 80DD)

  • Interest on Educational Loan (Sec 80E)

  • Donation (Sec 80G)


    • Savings
  • Pension Fund

  • EPF

  • LIC Policy Premium

  • PPF (Public Provident Fund)

  • NSC (National Savings Certificate)

  • ELSS (Equity Linked Savings Scheme)

  • ULIP (Unit Linked Insurance Policy)

  • Fixed Deposit Schemes (5years or above)

  • NSC Interest


    • In case of housing loans
  • Loss from house property
    • Posted by at

    3 comments:

    1. AnonymousFebruary 10, 2011 at 10:42 AM

      why don't u add google adsense to earn some dollar.

      ReplyDelete
    2. Indian ThoughtsFebruary 10, 2011 at 11:32 AM

      Because I like my blog to be non-commercial.

      ReplyDelete
    3. UnknownMarch 30, 2013 at 6:33 PM

      Good post which gives the various Tax Saving Schemes information. I really got the best information about how to invest in various schemes gives the tax benefits.

      ReplyDelete

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