What are the various ways of savings to avoid income tax?
Let’s learn what are the various ways of savings to avoid income tax. The most accurate or helpful solution is served by Yahoo! Answers.
There are ten answers to this question.
Best solution
my annual salary package is 190000. brakup is basic - 5000 medical- 833 conv.allow.- 600 hra - 6000 PF - 600 LTA - 417 DA - 1000 Gratuity- 400 others- 1000
Answer:
The max. you save invest in tax saving plan is Rs.1,00,000/- p.a. Out of this the best depends upon...
prem at Yahoo! Answers Mark as irrelevant Undo
Other solutions
I am currently working and my wife is not. We have a joint savings account which my wage is deposited into. I am thinking about buying some investment products such as stocks, mutual funds etc. using the money from my joint account, under my wife&rsquo...
Answer:
It's called an inter-spousal loan. As long as you loan the money at CRA's prescribed rate, there is...
Jerry at Yahoo! Answers Mark as irrelevant Undo
I am getting 2,80,000 pa. how to avoid income tax fully.. My friend told that u must to pay 2000 minimum tax. 280000-160000=120000@10%tax=12000. If saving limit 1,00,000 means balance 2000 income tax.. how to avoid that also... Is it possible to avoid...
Answer:
You can reduce your taxable income by Rs.1,00,000 by Investing in avenues mentioned U/s 80 C Further...
Siva kumar. at Yahoo! Answers Mark as irrelevant Undo
My mother is cashing in stock and will be gifting me roughly $38,000 to pay for flight school. She will not pay capital gains taxes on the stock. She will be depositing the check into her checking account and then transferring the money into my savings...
Answer:
A gift of $38K to one person in one year must be reported on a gift tax return, but unless she has given...
mike at Yahoo! Answers Mark as irrelevant Undo
Annual income is 303600 for the financial year 2009-2010. According to the recent budget, TDS is 16,191.60+ Education cess - Rs.314.40 and Secondary and Higher Education cess Rs.157.60. Total tax payable = 16,663.20. I have got this output from http...
Answer:
All your calculations are wrong. For FY 2009-10, income not subject to tax for woman is Rs. 1,90,00...
Kavitha at Yahoo! Answers Mark as irrelevant Undo
I know that if i sell an investment property before one year I will be taxed at regular state/fed income levels on the profit made (not at capital gain tax rates)- Can I gift the profits ($12,999 to as many persons) and avoid having to pay taxes on it...
Answer:
You cannot avoid taxes by gifting profits, as other people already stated. However, you may have couple...
josh at Yahoo! Answers Mark as irrelevant Undo
by claiming tax rebate under sections of IT. I did to avoid tax
Answer:
Investing in Home Loan Intrest component 1,50000 free Capital from this home loan free up to 1,00,0...
wonder boy at Yahoo! Answers Mark as irrelevant Undo
Present annual savings (lic 14010+PF deduction 18900) = 32910/- only. Children edu. fee = 250/ month HRA= 3500/ MONTH ( EXTRA amount paid by company not included in gross amount) ...show more
Answer:
If you make $21,000 a month, get a professional accountant to work for you. If you are really banking...
B2JO4UZ5EDNCGIAMMZBBINFKFM at Yahoo! Answers Mark as irrelevant Undo
I just saw an article in Yahoo which says tax benefits can be claimed by investing funds in the name of parents - senior - and direct children.This was shown as:"Reproduced From Money Today. © July 2011. LMIL" Can some one thro more light...
Answer:
There are few section under Income Tax Act 1961 which provide deduction from income by way of indirect...
Siva S at Yahoo! Answers Mark as irrelevant Undo
If Taxes are raised on the Rich the Rich going to try to find ways to hide or cheat or to avoid higher Taxes they will try to find loopholes and Tax shelters and other ways to avoid high Taxes they will not keep their money/wealth inside their Businesses...
Answer:
Well, when the present Treasury Secretary Geithner fails to pay his own taxes, and dems like John Heinz...
Un at Yahoo! Answers Mark as irrelevant Undo
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