Tax Planning

Tax planning is an important part of financial planning. Efficient tax planning enables you to reduce your tax liability. With our advice, you will pay the right amount of tax. This is done by legitimately taking advantage of all tax exemptions, deductions rebates and allowances while ensuring that your investments are in line with your long term goals.

For Men Below 60 Years Of Age

Income Tax Slab Income Tax Rate
Income upto Rs. 2,50,000 Nil
Income between Rs.2,50,001 - Rs.500,000 10% of Income exceeding Rs.2,50,000
Income between Rs.500,001 - Rs.10,00,000 20%of Income exceeding Rs.5,00,000
Income above Rs.10,00,000 30%of Income exceeding Rs.10,00,000

For women Below 60 Years Of Age

Income Tax Slab Income Tax Rate
Income upto Rs. 2,50,000 Nil
Income between Rs.2,50,001 - Rs.500,000 10% of Income exceeding Rs.2,50,000
Income between Rs.500,001 - Rs.10,00,000 20%of Income exceeding Rs.5,00,000
Income above Rs.10,00,000 30%of Income exceeding Rs.10,00,000

For Senior Citizens(Age 60 years or must but less than 80 years)

Income Tax Slab Income Tax Rate
Income upto Rs. 3,00,000 Nil
Income between Rs. 3,00,000 - Rs.500,000 10% of Income exceeding Rs. 3,00,000
Income between Rs.500,001 - Rs.10,00,000 20%of Income exceeding Rs.5,00,000
Income above Rs.10,00,000 30%of Income exceeding Rs.10,00,000

For Senior Citizens(Age 80 years or More)

Income Tax Slab Income Tax Rate
Income upto Rs.5,00,000 Nil
Income between Rs.500,001 - Rs.10,00,000 20%of Income exceeding Rs.5,00,000
Income above Rs.10,00,000 30%of Income exceeding Rs.10,00,000

Deduction under chapter VI (sec 80c).

  • Deduction under Pension scheme(sec 80c).
  • NSC (sec 80c).
  • Public Provident fUND (sec 80c).
  • Employees Provident Fund & Voluntry PF (sec 80c).
  • Children's Eductaion (sec 80c).
  • Housing Loan Principal repayment(sec 80c).
  • Insurance Premium (sec 80c).
  • Infrastructure Bonds & Others (MF, ULIP,etc.)(sec 80c).
  • Medical Insurance Preium (sec 80D).
  • Medical for handicapped dependents (sec 80DD)
  • Medical for specified diseases(sec 80DDB).
  • Higher Education Loan Interest Repayment (sec80E).
  • Donation to approved fund and charities (sec 80G).
  • Rent Deduction (sec 80GG) ONLY if HRA not Received.
  • Deduction for permanent disability (80u).

Deduction under chapter VI (sec 80c).

Under Sec.80C of the Income Tax Act.
Premium Paid up tp maximum of Rs.1,50,000 subject to maximum of 20% of Capital sum Assured under Traditional & Unit linked Plans.

Under Sec.80CCC of the Income Tax Act.
Premium Paid up tp maximum of Rs.1,50,000 under pension plans. However,u/s.80 CCE,the aggregate amount of deduction under section 80C, section 80CCC, and section 80CCD shall not, in any case exceed one lakh rupees.

Under Sec.80DD of the Income Tax Act.
Premium Paid under plans exclusively for physically handicapped persons upto Rs.50,000/- Incase of severe disability as certified & issued by the medical authority upto Rs.75,000/- Exemption of Life Insurance Proceeds.

Under Sec.10(10D) of the Income Tax Act.
Maturity benefits are tax free.However in Cases where premium exceeds 20% of capital sum assured within a year, benefits paid in excess of premium paid will be taxable. Death benefits are tax-free.