i need to know the savings I can show to save my entire tax deductions?
I have an annual salary of 3.45 L/annum. I am a female. Anyone with knowledge of tax, please answer my question that how much maximum savings in for...
I have an annual salary of 3.45 L/annum. I am a female. Anyone with knowledge of tax, please answer my question that how much maximum savings in form of NSCs, PPF, Insurance do I need to invest to avoid any income tax deductions. I am paying rent of Rs 7500 per month. Please let me know the answer. Thank you
This is difficult without the break-up of your pay since part of the basic is already accounted for as PF etc and not everything is taxed at the same rate if supportings are available. I suggest that you download this tax calculator from http://prrajan-tax.blogspot.com/2008/03/indian-income-tax-calculator-for-fy2008.html and fill in the columns; change the "M" to "F" in the "Parameters" sheet.
You can try values until you get a zero tax liability. In case you have any queries on its usage, you may ping me through my Y! Answers profile.