4 Replies to “How much tax can be saved for the year 2012-2013?”

  1. You can save 1,00,000 under section 80C
    Direct Tax code is postponed, so will not be applicable for this year.

    what changes in tax saving this year for financial year 2012-13

    Section 80CCF under which deduction was allowed for investment in infrastructure bonds in 2010-11 and 2011-12 has not been extended for 2012-13;

    for any insurance premium paid from April 1, 2012 onwards, it should not exceed 10 per cent of the sum assured.

    Rajiv Gandhi Equity Savings scheme will be introduced from April 2012, but not complete details related to this saving scheme for tax savings purpose.

    Union Budget proposed Introduction of the “Rajiv Gandhi Equity Saving Scheme” wherein small investors’ get annual tax exemptions on equity investments up to 50000 Rs with three years lock in. This new equity savings scheme to provide for income tax deduction of 50% for those who invest Rs.50, 000 in equity and whose annual income is less than Rs. 10 lakhs

    Rest other are same for 2012-13

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