My Father in Law has received following Income between 01.04.2008 & 31.03.2009.
He is Not a Senior Citizen & has no other Income
Salary : INR 4,26,420.00
Value of Perks u/s 17(2): INR 3,537.00
Investments Qualifying under
Sec 80 C ie (PF+PPF+LIC Prem) INR 1,14,610.00
Payments qualifying under
Sec 80 D INR 5,052.00
Interest Income INR 2,47,364.00
Dividends on Shares INR 82,000.00
Pls advise his Tax Liability showing how it was calculated
I am a house wife and i have earned more than Rs10000 in a year as an interest. so do i have to pay the income tax. if yes how much. please suggest me some methods how to save my money and pay minimum tax. I do not have much money. and also i don’t want to invest my money in post offices. is there any rebate if i deposit my money in recurring deposits? if yes than how much. please suggest me.
Can you help with any ideas of how can i intelligently invest this amount avoiding mutual funds and ulips.
i m giving some amount to my son (age above 19) on weekly basis as pocket money. Son invests that amount in bank FDs and earns interest on it. i would like to know to whose total income the interest earnings will be added for tax purpose…?
If the bank sinks will we loose our savings? If yes, then which the most secure bank? Are public banks more safe than private banks?