tax exemption under ppf ?

Hii all,
my annual income is 2 lakh Rupees and i want to know how what is the mtax benefit , if i’ve inevested 70,000 (max) per year.
Are there any other plan’s like ppf .
please do help me.

3 Replies to “tax exemption under ppf ?”

  1. if your income is 2 lacs only and eligible investments under sec 80(C) like LIC,PF,PPF etc are not exceeding Rs.1 lacs, there may not be any tax at all for the reason, upto the first slab of Rs.1.10
    in the net taxable income (after deducting 80(C) investments), the rate of IT is NIL

  2. Yes my friend you can claim deduction for housing loan interest,your mediclaim insurance policy,education loan and much more.
    Now as per your condition it is sufficient for you 70000 in PPF.There is no tax liability now for you as individual tax limit start from 1,60,000/- and your income is 2,00,000-70,000=1,30,000/-.

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