I know the limit of taking facility for tax saving in PPF is70,000 ,but can i only save more than that 3 lacs?

Question

I know the limit of taking facility for tax saving in PPF is70,000 ,but can i only save more than that 3 lacs?

Answer 1

Sorry, i am unable to understand your question completely.

ALWAYS EXPLAIN YOUR QUESTION

But i want to share something.

In a single year, you can invest a maximum of Rs. 70000/- and Rs. 30000/- in other Tax Saving Schemes in order to take benefit of Tax Saving.

If you want to invest in Tax Saving Schemes more than Rs. 1 lac than you can but you can claim only upto Rs. 1 lac in ITR.

Hope you are satisfied with my answer, and select me as the best answer.

Answer 2

The deduction limit is Rs. 1 lac under section 80C.

read http://mytaxes.in/index.php?topic=24.0

Answer 3

Your question is not clear. WHat i understood from your question (very little) and some from the reply of my other friends you want to know how to save more tax

You can save tax on Rs 1 LAc under section 80C

YOu can save tax on Rs 15000 under section 80D if you have medical indurance and if you have senior citizen parrent and if you pay  for their medical isurance then you can get another rebate of 5000/-

You can make donation u/s 80G to get rebate up to 5% of taxable income

and best way for not paying tax is hide the income