Skip to main content
Personal Finance & Money

Return to Question

deleted 4 characters in body; edited title
Source Link
Dheer
Dheer
  • 57.2k
  • 18
  • 89
  • 170

How much should iI invest in PPF account to save Rupees 15000 income tax?

For ex: 
My net/total Taxable Income, after all deductions, for the Financial Year 2016-17 is Rs 4, 0000,000  (4 Lakh Rupees).I I am a salaried person.

Now, tillAs per current tax brackets upto 2.5 lakh, there is NIL tax. So, my taxable income left is 400000-250000 = Rupees 1,50,000  (1.5 Lacs). I come underThis amount is taxed at 10% slab bracket, so now my income tax is Rs 15, 000000.

I have not done any extra saving....now if If want to open a PPF Account, then how much should iI invest in PPF, so that iI can save full RS 15000 tax or at least some part of it. 

I have declared in investment declaration form, to my company that iI will invest Rs 1.5 lac in declaration form. How does thatDoes this matter?

Is it that to save just Rs 15,000 tax iI have to put 10 times, 1.5 lacs in PPF account or iI can just putinvest Rs 20000 - 30000 Rs to save full tax.

Is their some ratio 1:2 or 1:33; i.e.that means to save Rs 1000 rs iI have to invest 10000..etc.2 times or 3 times.or something like that? Please help....im I'm confused.

Thank you so much for your answer!

How much should i invest in PPF account to save Rupees 15000 income tax?

For ex: My net/total Taxable Income, after all deductions, for the Financial Year 2016-17 is Rs 4, 00,000(4 Lakh Rupees).I am a salaried person.

Now, till 2.5 lakh, there is NIL tax. So, my taxable income left is 400000-250000 = Rupees 1,50,000(1.5 Lacs). I come under 10% slab , so now my income tax is Rs 15, 000.

I have not done any extra saving....now if want to open a PPF Account, then how much should i invest in PPF, so that i can save full RS 15000 tax or at least some part of it. I have declared in investment declaration form, that i will invest Rs 1.5 lac in declaration form. How does that matter?

Is it that to save just Rs 15,000 tax i have to put 10 times, 1.5 lacs in PPF account or i can just put 20000 - 30000 Rs to save full tax.

Is their some ratio 1:2 or 1:3..that means to save 1000 rs i have to invest 10000..etc..or something like that? Please help....im confused.

Thank you so much for your answer!

How much should I invest in PPF account to save Rupees 15000 income tax?

For ex: 
My net/total Taxable Income, after all deductions, for the Financial Year 2016-17 is Rs 4,00,000  (4 Lakh Rupees). I am a salaried person.

As per current tax brackets upto 2.5 lakh, there is NIL tax. So, my taxable income left is 400000-250000 = Rupees 1,50,000  (1.5 Lacs). This amount is taxed at 10% bracket, so now my income tax is Rs 15,000.

I have not done any extra saving. If want to open a PPF Account, then how much should I invest in PPF, so that I can save full RS 15000 tax. 

I have declared in investment declaration form to my company that I will invest Rs 1.5 lac in declaration form. Does this matter?

Is it that to save just Rs 15,000 tax I have to put 10 times, 1.5 lacs in PPF account or I can just invest Rs 20000 - 30000 to save full tax.

Is their some ratio 1:2 or 1:3; i.e. to save Rs 1000 I have to invest 2 times or 3 times. Please help. I'm confused.

Thank you so much for your answer!

deleted 3 characters in body
Source Link
tax payer 334
tax payer 334
  • 21
  • 1
  • 3

For ex: My net/total Taxable Income, after all deductions, for the Financial Year 2016-17 is Rs 4, 00,000(4 Lakh Rupees.). Now, iI am a salaried person and have opted for EPF deductions on monthly basis, which is included in deductions.

Now, till 2.5 lakh, there is NIL tax. So, my taxable income left is 400000-250000 = Rupees 1,50,000(1.5 Lacs). I come under 10% slab , so now my income tax is Rs 15, 000.

I have not done any extra saving....now if want to open a PPF Account, then how much should i invest in PPF, so that i can save fulfull RS 15000 tax or at least some part of it. I have declared in investment declaration form, that i will invest Rs 1.5 lac in declaration form. How does that matter?

ThanksIs it that to save just Rs 15,000 tax i have to put 10 times, 1.5 lacs in PPF account or i can just put 20000 - 30000 Rs to save full tax.

Is their some ratio 1:2 or 1:3..that means to save 1000 rs i have to invest 10000..etc..or something like that? Please help....im confused.

Thank you so much for your answer!

For ex: My Taxable Income for the Financial Year 2016-17 is Rs 4, 00,000(4 Lakh Rupees.). Now, i am a salaried person and have opted for EPF deductions on monthly basis, which is included in deductions.

Now, till 2.5 lakh, there is NIL tax. So, my taxable income left is 400000-250000 = Rupees 1,50,000(1.5 Lacs). I come under 10% slab , so now my income tax is Rs 15, 000.

I have not done any extra saving....now if want to open a PPF Account, then how much should i invest in PPF, so that i can save ful RS 15000 tax or at least some part of it. I have declared that i will invest Rs 1.5 lac in declaration form.

Thanks!

For ex: My net/total Taxable Income, after all deductions, for the Financial Year 2016-17 is Rs 4, 00,000(4 Lakh Rupees).I am a salaried person.

Now, till 2.5 lakh, there is NIL tax. So, my taxable income left is 400000-250000 = Rupees 1,50,000(1.5 Lacs). I come under 10% slab , so now my income tax is Rs 15, 000.

I have not done any extra saving....now if want to open a PPF Account, then how much should i invest in PPF, so that i can save full RS 15000 tax or at least some part of it. I have declared in investment declaration form, that i will invest Rs 1.5 lac in declaration form. How does that matter?

Is it that to save just Rs 15,000 tax i have to put 10 times, 1.5 lacs in PPF account or i can just put 20000 - 30000 Rs to save full tax.

Is their some ratio 1:2 or 1:3..that means to save 1000 rs i have to invest 10000..etc..or something like that? Please help....im confused.

Thank you so much for your answer!

Source Link
tax payer 334
tax payer 334
  • 21
  • 1
  • 3

How much should i invest in PPF account to save Rupees 15000 income tax?

For ex: My Taxable Income for the Financial Year 2016-17 is Rs 4, 00,000(4 Lakh Rupees.). Now, i am a salaried person and have opted for EPF deductions on monthly basis, which is included in deductions.

Now, till 2.5 lakh, there is NIL tax. So, my taxable income left is 400000-250000 = Rupees 1,50,000(1.5 Lacs). I come under 10% slab , so now my income tax is Rs 15, 000.

I have not done any extra saving....now if want to open a PPF Account, then how much should i invest in PPF, so that i can save ful RS 15000 tax or at least some part of it. I have declared that i will invest Rs 1.5 lac in declaration form.

Thanks!