Save your Online Income by paying minimum possible tax [ INDIANS ONLY ]

From where did u get this info,looks old to me.

 

This is for the financial year 2007-2008

 

Raje_2000_21

Thanks again in explaining things in a simple manner.

On a nutshell, I understand now if A earns 2,10,000 in a year, he can get away without paying any tax if he is wise in investing. Because the taxable amount is one lac, but he can save the entire tax by investing in PPF, LIC etc.

Ok here comes the last question, i promise, I wont ask again.

What happens for HUF people. I happen to know a good friend of mine whose dad looks after his financial affairs. Now, his dad invests under my friends name, or under joint name of my friend and his mother or again in my friend's father and mother's name. The bottom line is the family invests some money regardless of whose name appears in KVP, NSC etc.

What is the possible rule here. For an individual the first bench mark is Rs 1,10,000, but what are the rules in the above case ?

By the way, is short term fix deposit under 80CC.

Thanks once again

You have been instrumental in clearing all most all my doubts.

Regards

gopalgkb