16 Nov 2008

Investment plan 3

As mentioned in my last Blog on Income tax calculation, a person can claim a maximum of Rs 1 lac only in a financial year to evade tax. I was thinking otherwise.... what if i invest the same amount which i would be saving for the financial year and invest in something which will yield higher benefits. So i came up with a small calculation which stuck quite in my  favor .
Remember Investment plan 1?

For that i need at least RS 1,27,000/- only; which is 27k more. With that amount invested, you will be reaping benefits over benefits. Let me share u the calculations...

Amount i will get out of the investment = 7775*12 = 93300
Tax I have to pay without investing the 1lac rupees in a financial year (after deduction of other tax benefit claims like room rent, medical claims, life insurance etc which already have been invested) = Rs 47550 (approx)

Amount i will gain even after not paying off taxes = 93300 - 47550   = Rs 45750/- (approx)

Please do not take this for a ride. Investment decision is purely yours and should not be driven by any advices or counsels. This plan is shared by me based on my thinking and beliefs, please do not bais yourself on the same.


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