How much i have to invest to get income tax rebate in india ?

plscan anybody explain everthing in easy terms...

There is no concept of Rebate in India from AY 2004-05

Rebate has been discareded in India!

Now you get deductions in India

Suppose your total income is Rs.200000 then you could invest upto Rs.100000 under section 80C to get a deduction of Rs.100000 and you would have to pay no tax. This is only upto Rs.100000. And deduction under this section would be available in :-

1.LIC payments
2.PPF deposits
3.NSC purchased
4.School Tution fees paid for children
5. And other such specified investments/payments such as interest on house loan etc.

For getting relief in paying tax by investing, the limit of Rs.100000/- is available to each and every individual as explained by one friend above. For saving more on taxes, you can buy residential house after availing loan from financial institutions. The interest paid on housing loan is completely set off against your taxable income. Further the element of repayment of loan is also considered in the limit of Rs. 100000/- mentioned above.

If you have other types of incomes like capital gains etc. then the tax planning avenues are different.

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