Question : What is the best way to plan Income-Tax saving in India for 2007-2008?
- asked by D M K
All Answers:
Answer #1
Invest 1 lakh in investments eligible as deductionu/s 80C. In this way you can save much of yourtax depending on your taxslab.
http://www.rediff.com/getahead/2005/dec/26tax.htmIf you buy a house or flat for residentialpurpose, then the interest you pay on that loanamount is eligible as deduction up to 1.5 lakhsper year. At the same time the housing loanprincipal amount which you repay to the housingloan company is eligible as deduction up to 1 lakhper year (This repayment comes under sec.80c)
- answered by N.J.Reddy
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measure and fulfill your financial needs
