Hello
Most of you might have got mails from the finance (payroll) people to submit investment details.You can check the details of your tax-tax calculation at your personnal manager> Fianance > Income tax calculation. It is very clearly explained there.
I am sending some links which will be helpful.
One tip I got from elders:
Better not to pay tax than to expect a "timely" return of excess tax paid. (For those who didnt get this, whatever tax you overpay will be returned back to you but it takes a long time-sometimes 1-2 years for it to come back . e.g. for the last financial year, most of us might have paid some tax, but it was wrongly calculated by the payroll as we were not liable to pay any tax as our taxable income was less than the limit. So that extra tax will come back...but when..dont know)
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1. Cut your tax liability by 20%, invest in the following schemes : http://www.myiris.com/tax/section88.php3
2. http://www.taxmann.com/TaxmannDit/DisplayPage/dpage1.aspx ; Search for '80C'
I hope this helps
Regards
Kanuj
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