Localfund.com - All about Fund and Investment
*Home>>>Income Fund

Indian income tax returns?


I am an employed professional and is getting salary from my employer. I just invested my savings in the form of LIC insurance and mutual fund. Being like this whether it is enough for me to just file ITR-1 or should I file both ITR-1 and ITR-2

as far i knw u just need to file itr 1 ... and the lic premium can be taken for dedn under 80c

YOU HAVE TO FILE ITR-1 ONLY. THE SAME FORM FOR INCOME FROM SALARY & INTEREST. AMOUNT INVESTED BY YOU IN LIC & MUTUAL FUND DEDUCT THE SAME FROM YOUR INCOME U/S 80C.

Tags
  Investment Account   Invest Money   Invest in Gold   Invest Fund   Income Fund   HYIP   High Yield   Hedge Fund
Related information
  • I'm looking to fund someones Ebay venture in exchange for share of profits?

    eBay is the largest online marketplace and one of the most popular ways to earn an income from home with a PC and internet connection. Selling on eBay is inexpensive and easy to start. Ebay has a n...

  • Who can sponsor or fund a Artist -good rep ?

    I would, but I just have no idea how to market that kind of music - it's dance but it's not really danceable, it's a bit kraftwerky, maybe a bit aphex twin... You probably know yo...

  • Regarding variable annuities for retirement income?

    plenty....there are fees associated with annuities. Do not let them tell you otherwise. The prior poster has it 100% correct! Give him 1000 stars and best answer and then avoid the annuity salesm...

  • Where do you expect Citigroup to bottom out?

    I think most of the blood is already in the street, trading at 26 and change I see downside at about 24-25. Alot of the panic may be priced in as the CEO of Wachovia recently bought back 100,000...

  • Which of the following type of fund has the lowest expense ratio?

    Typically Index Funds have the lowest expense ratio--not actively managed.

    ...
  • Provident Fund Withdrawal while going for higher studies?

    As far as I know, there is not TDS on withdrawal of PF. If it is taxable, then the entire withdrawal amount will be added to the income. As as student your income will be zero. At the same you wi...

  • Can I claim pmts made into a prepaid college fund, on my taxes?

    No. Payments to the Florida Prepaid College Plan are not tax deductible. Here's the website for the Florida plan ...

  • How much money is required to buy a retirement fund.?

    i agree with poster number two -- l think as rule of thumb - in my case my lie style has not changed and it costs me about 75% now compare to when i was working.. so if you for get raises to ss and...

  •  

    Categories--Copyright/IP Policy--Contact Webmaster