tax saving instruments for individual for financial year 2015 16
TRANSCRIPT
Tax Saving instruments for individual for financial year 2015-16
As we are close to financial year 2015- 16, here are some tax saving instruments which can save tax up to 30 percent tax (plus Cess of 3 percent)
1. Save/ invest/ expend up to Rs. 1,50,000 in following instruments and save tax ( section 80 C)
2. Life insurance of self/ spouse and children 3. National saving scheme 4. Equity linked saving scheme of Mutual fund 5. Provident fund / superannuation fund 6. Unit linked insurance plan7. Sukanya Smriddhi ( in the name of daughter below 10 years )8. Tuition fees of two children 9. Repayment of housing loan ( principal amount) 10. Fixed deposit with Banks/ post office for 5 years
Tax Saving instruments for individual for financial year 2015-16
2. Contribution to new pension scheme of Rs. 50,000 ( over and above Rs. 15,00, 000 of 80C)
3. Invest in Rajiv Gandhi saving scheme ( maximum Rs. 50,000 ) and get deduction of Rs 25,000
4. (Applicable to first time investor and for income below Rs 12, 00,000)
5. Medical insurance premium paid for self Rs. 25,000(including spouse, children) and parents Rs. 25,000( Including Rs 5,000 spent on preventive health check-up
6. Deduction in respect of interest paid on loan taken for higher education