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Q.

My yearly income is Rs. 203000, and yearly HRA i recived Rs. 37800. I have also saving of Rs. 27900. How much I have to invest in (FY 2008-09) to not pay any tax.

Asked by Sanjeev Sinha, 21 May '08 02:58 pm
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Answers (4)

1.

How much rent u are paying?
Answered by Rahul Deshpande, 21 May '08 03:22 pm

 
  
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2.

it depens how much you are paying for house rent. assuming ur paying 37800 as house rent, then if u save 68000, then u dont hv to pay any rent.
Answered by stranger anony, 21 May '08 03:01 pm

 
  
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3.

I TOTALLY AGREE WITH NIRAV SHAH.
AS HE HAS GIVEN YOU ALL THE DETAILED CALCULATION, AND EVEN AS PER MY OPINION YOU NEED TO DO THE SAME AS MR. SHAH SAID.
Answered by sushma shrisunder, 21 May '08 07:23 pm

 
  
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4.

As per income tax rule
up to 1,50,000 = 0 %
net 1,5000 to 2,03.000 you have to pay = 10% tax
your P.F. Contribution is 1,000 Rs. SO taotal P.F. Deduction is 12,000/-
Your net taxable income is 53,000-12,000= 41,000/-
You have to pay 4100 Rs. tax annually.
IF you invest this 41,000/- than you did not pay any tax.


Answered by nirav m shah, 21 May '08 03:18 pm

 
  
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