Hi, I am getting 36k p.m. Can u suggest me how to save tax? Now they are deducting 4000 p.m from my salary.?



I am getting monthly Rs. 36,000 salary. And they are deducting monthly Rs. 4,000 as income tax. Is there any way to save the tax amount? Can u suggest me please??

Hi, I am getting 36k p.m. Can u suggest me how to save tax? Now they are deducting 4000 p.m from my salary.?
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5 Replies to “Hi, I am getting 36k p.m. Can u suggest me how to save tax? Now they are deducting 4000 p.m from my salary.?”

  1. You can invest upto Rs.1,00,000/- in LIC, PPF, NSC or in Mutual fund ( selected) to get the benefit of section 80C.In addition medical Insurance Premia upto 10,000/- is allowed under section 80D.Best way is to buy a house for your residence on loan and interest is set off against your salary upto 1,50,000/- in a year.


  2. easy and simple way is to take a life insurance policy in your name or ur family members name. or u can deposit in mutual funds like bajaj, sbi, franklin etc,. or u can do deposits in PPF, Shares on yearly basis. All these are Tax exempted and also profitable for you.


  3. Tax savings options are limited and well quantified under the Income Tax Act. Someone above has indicated limits of Rs. 1.00 lac, housing deductions etc. The core point now remains how best you can earn out of these options by planning in such a way that your current needs are met, you have contingent funds for eventualities of life, and you could think of a comfortable retired life later on by exploiting your tax savings options as well.

    I suggest that you spend time planning your taxes, savings and options of investments; your current personal and family needs, some logical future financial planning and some provisions for contingencies. You mayn’t be in position all the times to save maximum tax ignoring your other compelling or deserving needs as well. Take decisions in totality.


  4. Put your money in PPF so that little over 1 Lakhs is saved per annum ( together with company PF ) . You will get maximum of this advantage at present . With an investment of 1 Lakh, you will save a tax of Rs. 12000/- only.
    Your investment in PPF will earn you a tax free return ( after 15 years ) of about 8.5 %.


  5. Specific savings worth Rs.1,00,000 can be deducted from annual salary for the purpose of Income tax.
    Your optimal distribution of Rs.1,00,000 would be (as per my opinion)

    20% – Employee Providend Fund, Public Providend Fund
    30% – Life Insurance Policies
    30% – SIP in Mutual Funds
    10% – Goverment Infrastructure Bonds
    10% – Fixed deposits in Banks





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