how to save the tax

How To Save Tax

There are different ways to save your tax and save a lot of money. Even there are different plans to save your tax in India. New salary is revealed in India in 2010, people get a higher salary or higher current salary beyond their own expectation and the current salary is dependable upon the cutting of tax. All types of new income tax schemes will depend upon the India finance ministry for government employees as well as for private employees in India. India government gives different types of tax discounts and there are different type of popular tax saving options for the people of India such as funds, saving bonds and life insurance etc. There are number of banks in the list of most popular tax saving schemes in India.

You can call any of the banks for the information about tax saving options. The tax saver will tell you about the plans and procedure about the tax saving according to your current salary or total CTC. It is better to pay the car loan EMI, home loan EMI and many more in advance because the bank will imply the new interest rate at higher level up to 0.50%. So don't take your loan EMI very easily. A powerful systematic investment plans will help people in India. Reserve bank of India has various tax saving tools. The bank will sign the bond for 3 and 5 years at the rate of interest is 7.5% per annum. There are two types of bonds under the reserve bank

of India such as cumulative bond and non-cumulative bond. There are so many private sector banks in India for tax saving.

The financial ministry will give special or extra tax saving schemes for the senior citizen and widows in India. Above the pay scale of 1.8 Lac, you can invest your money up to 1 Lac on life insurance and other plans. The Americans staying and doing work outside the country must be free from the tax and they do not have to pay any tax. There are different types of tax saving schemes in the Europe countries some of them are as follow such as:

  1. You can earn all the money outside the United States. Every country has its own rules and regulations on the tax saving incomes.
  2. The bonafide certificate tells you that you are the resident of a foreign country. After getting a bonafide certificate of a country, you are eligible to live in that country.

Even the Europe countries are very strict to their rules and regulation about the tax as compare to the Asian countries. If your income is high you have to pay high tax.

One of the best options to get the information about tax saving schemes is to get online and browse various sites giving details about tax saving schemes. You do not have to do anywhere to get information as you can get it at the comfort of your home. You can also contact a tax consultant who can give you the best suggestions.


Category: Taxes

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