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How much money do you have saved up?😳
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deduct annual PF amount from ₹1,50,000.
the resultant amount is you can invest and save tax through NSC.
How much you will save depends on your tax bracket. Basically, amount of ₹1,50,000 (80c) and ₹50,000(standard deduction) will be subtracted from your Gross income to calculate taxable income and then according to slab 10,20 or 30%.
For ex if my pf amount is somewhere around 35k..so I can invest rest 1.15k into NSC and Claim full deduction of 1.15k for investment ? FYI- I'm into 20% tax bracket (7lpa).please suggest
Yes. Invest 1.15 in NSC and claim deduction.
But be cautious before fixing the amount you want to invest. Coz, your pf amount increases alot in next 2 years with your salary hike. Then it's already gonna occupy your 150K limit. Down the line, you won't get a feel like investing in there
Ohh yeah good point..made a note..thanks so much😊