MONEY TIPS FOR INDIA - Want to save taxes Restructure your CTC and invest in NPS

None of us like it when a
substantial amount is deducted
from our salary as Income Tax
every month. We constantly try to
figure out various means and
ways of decreasing this tax
burden. In case an individual
doesn’t have a home loan or an
education loan, then the only
route through which he can save
taxes is by investing in
instruments under Section 80C
and 80 CCF. Overall this has a limit
of Rs. 1.20 lakhs (1 lakhs under
section 80C and Rs. 20,000 under
section 80CCF). If a person has a
CTC of Rs 5 lakhs per annum, then
the income tax on the same would
be around Rs. 34,000 under the
current income tax slabs. The
person can choose to invest Rs. 1
lakh under section 80C. He can
also choose to invest additional
Rs. 20,000 in Infra bonds to save
under section 80CCF. By investing
this amount, he can save around
Rs. 12,000 in taxes. Once all these
investments are done, the
individual still has a tax liability of
Rs. 22,000 per annum which.. READ MORE @


Want to save taxes Restructure your CTC and invest in NPS