My taxable income is coming around 63000/-.Kindly provide some ideas to avoid this.?

Question

any think i can do (ie)post office savings,fixed deposit etc..

Answer 1

Pay taxes for the welfare of your nation.

Answer 2

Since your taxable income is less than the thershold limit of Rs. 110000, so you do not need to pay have any tax on it.Moreover you can reduce it by making investment in LIC, fixed Deposit, but there will be no affect on payment of tax, as your taxable income is less than RS. 110000

Answer 3

Best way is to invest into PPF, or in ELSS( equity linked saving schemes) through Mutual Funds.....

There is no other good way  in respect of these two.....

Answer 4

take a policy in any well know company

Answer 5

your question is incomplete. how did u arrive at a taxable salary of 63,000/--??

Answer 6

Without any knowledge of where the income is coming from it is difficult to give you any tax avoidance advice.

Common things to look at are investment accounts and pension plans. Additionally you could consider trusts and investment schemes for your children.

Answer 7

Is it for FY 2007-08? Then you are late. If you provide more details about your incomes, then we can guide you about deductions.

Foum on India Taxes http://www.mytaxes.in

Answer 8

follow jeet R

His advise is appropriate provided your total income is 63000

Answer 9

Very simple gentleman.

You apply full physical power and stop the coming taxable income around 63000/-.

Ghanchakkar!  put a right question to get the right and serious answer.

Always income is earned or received  but it never comes as coming in your case.  No one asks as how to avoid taxable income but all (throughout world)  wish to avoid Income Tax on Income.

Moreover 63000/- is Rs. or else.

Answer 10

Taxable Income means what u mean?

If 63000 is the taxable income then u dont need to pay tax.

Since the Slab rate is Rs.1,00,000 for men

For any tax related queries

http://calculatetax.blogspot.com/

http://taxation-suchithra.blogspot.com/