Tax Saving Guide:: Your Guide to Tax Efficient Living

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

We thank our esteemed clients and read-

ers for their overwhelming response to the
18th Edition of our “Tax Saving Guide”. We
are pleased to present the 18th Edition of
the same, which is relevant for the current
financial year, i.e. April 1, 2016 to March
31, 2017 (Assessment year 2017-2018).
Our endeavor is to present the complex
provisions of the Income Tax Act in a
simplified manner, which could be under-
stood by a common investor as well as by a
layman. Your suggestions for any improve-
ment in this guide are most welcome.

Hurray!
It’s Tax Saving Day!!

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

P
roper tax planning is the basic duty of every person, which should be carried out
religiously. Basically, there are three steps in the tax planning exercise. You need
not consult an Income Tax Practitioner or a Chartered Accountant for this matter.
In fact, you can do it yourself. These three steps of tax planning are:

1. Calculate your Taxable Income for the Financial Year (from April 1 to March 31)
from all sources such as salary /pension, interest etc.

2. Calculate tax payable on Annual Taxable Income using a simple tax rate table,
given on the next page.

3. After you have calculated the amount of your tax liability, you have two options to
choose from:
a. Pay your tax (no tax planning is required)
b. Minimize your tax through Prudent Tax Planning.

Most people should and do choose Option ‘b’. Here, you have to compare the advan-
tages of several tax saving schemes and depending upon your age, social liabilities, tax
slab and personal preferences, decide on the right mix of investments/insurance plans,
which shall reduce your tax liability to Zero or to the “Minimum” possible. You may con-
sult your Financial Planner for distributing your savings in various tax saving schemes .

The following rates are applicable for computing tax liability for the current Financial
Year ending on March 31, 2017, i.e. Assessment Year 2017-18

For Individuals below 60 years of age (born after April 1, 1957) and HUFs
For a Resident Senior Citizen (who is 60 years or more at any time during the current
Financial Year 2016-17 but not more than 80 years on 31st March 2017 (born after
April 1,1937 and before March 31,1957)- April 1,1937 and before March 31,1957)-

Net Income Range Income Tax Rates Surcharge Plus Education Cess
Up to Rs. 2,50,000 Nil Nil Nil
Rs. 2,50,001 to Rs. 5,00,000 10% of income above Nil 3% of income tax
Rs. 2,50,000
Rs 5,00,001 to Rs 10,00,000 Rs. 25,000 + 20% of the income Nil 3% of income tax
above Rs. 5,00,000
Rs.10,00,001 to Rs.1,00,00,000 Rs. 1,25,000 + 30% of income Nil 3% of income tax
above Rs. 10,00,000
Above Rs.1,00,00,000 Rs. 28,25,000 +30% of income 15% of income 3% of income tax and
above 1,00,00,000 tax surcharge

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Net Income Range Income Tax Rates Surcharge Plus Education Cess
Up to Rs. 3,00,000 Nil Nil Nil
Rs.3,00,001 to Rs.5,00,000 10% of the income above Nil 3% of income tax
Rs.3,00,000
Rs. 5,00,001 to Rs. 10,00,000 Rs20000 + 20% of the income Nil 3% of income tax
above Rs. 5,00,000
Rs.10,00,001 to Rs.1,00,00,000 Rs. 1,20,000 + 30% of income Nil 3% of income tax
above Rs. 10,00,000
Above Rs.1,00,00,000 Rs. 28,20,000 +30% of income 15% of income 3% of income
above 1,00,00,000 tax tax and surcharge

For a Resident Super Senior Citizen ( who is 80 years or more at any time during 2016-
17 (born before April 1, 1937)-

Net Income Range Income Tax Surcharge Plus Education Cess

Up to Rs. 5,00,000 Nil Nil Nil
Rs. 5,00,001 to Rs. 10,00,000 20% of the income above Nil 3% of income tax
Rs. 5,00,000
Rs.10,00,001 to Rs.1,00,00,000 Rs. 1,00,000 + 30% of income Nil 3% of income tax
above Rs. 10,00,000
Above Rs.1,00,00,000 Rs. 28,00,000 +30% of income 15% of income 3% of income tax &
above 1,00,00,000 tax surcharge

Non-resident individual/HUF/AOP Resident Individual(<60 yrs)

Taxable Income Tax Surcharge Ed Total Income Tax Surcharge Ed
income
250000 Nil Nil Nil Nil Nil Nil Nil
270000 2000 Nil 60 2060 Nil Nil Nil
300000 5000 Nil 150 5150 Nil Nil Nil
320000 7000 Nil 210 7210 2000 Nil 60
400000 15000 Nil 450 15450 10000 Nil 300
500000 25000 Nil 750 25750 20000 Nil 600
800000 85000 Nil 2550 87550 85000 Nil 2550
1000000 125000 Nil 3750 128750 125000 Nil 3750
5000000 1325000 Nil 39750 1364750 1325000 Nil 39750
10000000 2825000 Nil 84750 2909750 2825000 Nil 84600
10400000 2945000 280000 96750 3321750 2945000 280000 96750
10600000 3005000 420000 102750 3527750 3005000 420000 102750

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Resident Senior Citizens( >60 but <80 yrs) Resident Super Senior Citizens( >80 yrs)
Total Income Tax Surcharge Ed Total Income Tax Surcharge Ed Total

Nil Nil Nil Nil Nil Nil Nil Nil Nil

Nil Nil Nil Nil Nil Nil Nil Nil Nil
Nil Nil Nil Nil Nil Nil Nil Nil Nil
2060 Nil Nil Nil Nil Nil Nil Nil Nil
10300 5000 Nil 150 5150 Nil Nil Nil Nil
20600 15000 Nil 450 15450 Nil Nil Nil Nil
87550 80000 Nil 2400 82400 60000 Nil 1800 61800
128750 120000 Nil 3600 123600 100000 Nil 3000 103000
1364750 1320000 Nil 39600 1359600 1300000 Nil 39000 1339000
2909750 2820000 Nil 84600 2904600 2800000 Nil 84000 2884000
3321750 2940000 280000 96600 3316600 2920000 280000 96000 3296000
3527750 3000000 420000 102600
3522600 2980000 420000 102000 3502000

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Note -
1) Rebate u/s 87A- A resident individual (whose net income does not exceed Rs.
5,00,000) can avail rebat u/s 87A.It is deductible from income tax before calculat-
ing education cess.The amount of rebate is 100 per cent of income tax or Rs. 5,000,
whichever is less.
2) Surcharge – Surcharge is 15 per cent of income tax if net income exceeds Rs. 1
crore. It is subject to marginal relief ( in the case of a person having a net income
of exceeding Rs.1 crore,the amount payable as income tax and surcharge shall not
exceed the total amount payable as income tax on total income of Rs. 1 crore by
more than the amount of income that exceeds Rs. 1 crore.)

Filing of Income Tax Return

1. Filing of income tax return is compulsory for all individuals whose gross annual in-
come exceeds the maximum amount which is not chargeable to income tax i.e.Rs.
3,00,000 for Resident Senior Citizens,Rs.5,00,000 for Resident Super Senior Citi-
zens and Rs. 2,50,000 for other individuals and HUFs.
2. The last date of filing income tax return for individuals is July 31, with one exception
covered in point 3 below.
3. Where accounts of the assessee are required to be audited under any law , the last
date for filing the return is September 30.
4. If income tax return is filed after the Assessment Year,a penalty of Rs. 5,000/- will
be levied.

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Tax Free Incomes

The following incomes are completely exempt from income tax without any upper limit.

1. Interest on PPF/GPF/EPF.
2. Interest on GOI/other approved tax free bonds.
3. Dividends on Shares and on Mutual Funds.
4. Any sum received under a life insurance policy (including the sum allocated by way
of bonus on such policy) either on death of the insured or on maturity of life insur-
ance plan. However, in case of life insurance policies issued after March 31, 2004,
exemption on maturity payment u/s 10(10D) is available only if the premium paid in
any year does not exceed 20% of the sum assured.
This provision has been further amended from current financial year and now ma-
turity proceeds from Life Insurance Plan will be exempt from Income Tax only when
the annual premium paid is not higher than 10% of sum assured. This is applicable
to policies issued on or after 1st April 2012.

5. Interest on savings bank account in a post office.(Exempt up to Rs 3,500 in an indi-

vidual account and Rs 7,000 in a joint account under section 10 (15) (i) )
6. Long term capital gain on sale of shares and equity mutual funds if the security
transaction tax is paid/imposed on such transactions.

Dividend Income
Dividend income from companies /equity-oriented Mutual Funds is completely exempt
in the hands of investors. Dividend is also tax-free in the hands of investors in case
of debt-oriented Mutual Fund schemes.

Gift Tax: Gift tax was abolished with effect from October 1, 1998. The gifts are no
longer taxable in the hands of donor or donee. However, with effect from September
1, 2004, any gift received by an individual or HUF will be included in taxable income,
provided the amount of gift exceeds Rs 50,000.

However, gifts received from any of the following will continue to remain tax free:
1. Spouse
2. Brother or sister
3. Brother or sister of the spouse
4. Brother or sister of either of the parents of the individual
5. Any lineal ascendant or descendant of the individual
6. Any lineal ascendant or descendant of the spouse of the individual
7. Spouse of the person referred to in (2) or (6)
Also, gifts received on the occasion of marriage or under a will by way of
inheritance are also tax free

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Computation of Gross Taxable Income

As per Income Tax , Income of a Person is Computed under the following 5 Heads :
1. Income from Salaries
2. Income from House Properties
3. Profit & Gains of Business & Profession
4. Capital Gains
5. Income from Other Sources

Now we will discuss in detail about the taxability of these sources of income.

1. Salary or Pension Income

Salaried employees are issued a certificate of tax deducted at source from salary in-
come by their employers in Form No. 16. It also gives the Net Taxable Salary figure.

2. Income from House Property

If the property is self occupied then the Income from House Property is treated as NIL. If
any loan is taken for the purchase of the property then the amount paid towards interest
upto a maximum of Rs.2,00,000/- is deducted from taxable income. In case property is
given on rent,then we have to find out the

3. Annual Rental Income

4. From this deduct Property Tax/Municipal tax if any paid by the owner.
5. From balance amount – deduct 30% towards repairs & maintenaince
6. From the residual figure – deduct the amount of interest paid on loan taken for the
purchase of the property.
7. The resultant figure is the Income from House Property.
8. Deduction under section 80EE for intrest upto Rs. 100000/- ( Please see detail on
page no-19)

3. Profit from Business / profession

Income as arrived on the basis of Profit & Loss A/c

4. Income from Other Sources

Interest Income from the following sources is also required to be included in the Gross
Taxable Income:
1. Interest on company deposits.
2. Interest on debentures/bonds.
3. Interest on savings bank account/ fixed deposits with banks.
4. Interest on post office savings schemes like MIS, NSC, Time Deposit etc.
5. Interest on private loans given to relatives, friends or any other entity.
6. Interest on government securities.

Tax Deduction at Source (TDS)

Interest payments by companies on Fixed Deposits .

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Income tax is deducted @10% in case the interest exceeds Rs 5,000 in a financial year.

Interest payments by Financial Institutions /Banks.

Income Tax is deducted @10% in case the interest amount exceeds Rs. 10,000 in a
financial year.

Interest payments by Post office on notified deposit scheme with post office, i.e., Senior
Citizen Savings Scheme,2004
Income Tax is deducted @10% in case the interest amount exceeds Rs. 10,000 in a
financial year.

Interest payments by Housing Finance Companies /Banks .

Income tax is deducted @10% in case the interest exceeds Rs. 10,000 in a financial
year .

NOTE:
1) TDS rate is 10 per cent (no surcharge, education cess, etc.).If the recipient does not
furnish his PAN to the deductor, tax will be deducted at the rate of 20 per cent.

2) Deduction of income tax at source can be avoided by filing Form 15G in duplicate
(15 H for senior citizens). However, such forms can be submitted only by individu-
als whose total income in the financial year is expected to be below the maximum
amount not chargeable to tax.

5.Capital Gains
Capital gain arises when certain assets like property (plot or a built up commercial /
residential unit) or shares/mutual fund units/bonds etc are sold for a profit. The treat-
ment of capital gains is slightly different from other sources of income as listed above. It
mainly depends upon whether the capital gain (profit on sale) is short term or long term.

5A. Short Term Capital Gain

As per section 2(42A)Short term capital Asset means a capital asset held by an asses-
see for not mo re than 36 months immediately prior to its date of transfer. However in a
few cases an asset (held for not more than 12 months)is treated as short term capital
asset. The teble given below gives the list of capital assets ( before and after amend-
ment)which are treated as short term capital assets if period of holding is not more
than 12 months-

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If transfer takes place on or before If transfer takes place after

July 10 ,2014 July 10 ,2014
1) Equity or preference shares in a company 1) Equity or preference shares in a company
(whether share are quoted or not) (listed in recognised stock exchange in India)
2) Securities (like debentures,bonds, Govern- 2) Securities (like debentures,bonds, Govern-
ment securities,derivatives ect.) listed in ment securities,derivatives ect.) listed in
recognised stock exchange in India recognised stock exchange in India
3) Unit of UTI (whether quoted or not) 3) Unit of UTI (whether quoted or not)
4) Units of mutual funds specified under sec- 4) Units of equity oriented fund (whether
tion 10(23D) (whether quoted or not) quoted or not)
5) Zero coupon bonds (whether quoted or not) 5) Zero coupon bonds (whether quoted or not)

After the aforesaid amendment ( in case transfer takes place after July 10,2014) un-
listed equity or preference shares will become long term capital assets only if period of
holding is more than 36 months.
Likewise, units of debt oriented fund will be treated as long term capital assets only if
period of holding is more than 36 months.

Capital gain arising on transfer of a short term capital asset is short term capital gain.

Short term capital gain is included in the gross taxable income like other sources of
income and normal rates of tax apply, which depend on the gross taxable income from
all sources including short term capital gains.
With effect from October 1, 2004, the only exception is short term capital gains from
sale of equity shares or units of equity oriented mutual fund schemes. In this case,
short term capital gains are taxed at a flat rate of 15% plus education cess, irrespective
of the tax slab on other sources of income, provided securities transaction tax is paid
on such sale.

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5B. Long Term Capital Gain

An assets other than a short term capital asset is regarded as a long term capital asset.

Capital gain arising on transfer of a Long term capital asset is Long term capital gain.

With effect from October 1, 2004, long term capital gain on transfer of listed shares/
units of equity oriented mutual funds schemes has been exempted from tax, provided
securities transaction tax has been paid on such sale.
For assets other than listed shares/units of equity oriented mutual fund schemes, tax
is payable in respect of long term capital gains at a flat rate of 20% and the amount of
gain has to be adjusted for inflation. This inflation adjustment is known as indexation
benefit. Every year the Government of India announces inflation adjustment rate for the
purpose of long term capital gain. A detailed chart is given below:

Financial Year Cost Inflation Indexation

1981-82 100
1982-83 109
1983-84 116
1984-85 125
1985-86 133
1986-87 140
1987-88 150
1988-89 161
1989-90 172
1990-91 182
1991-92 199
1992-93 223
1993-94 244
1994-95 259
1995-96 281
1996-97 305
1997-98 331
1998-99 351
1999-2000 389
2000-01 406
2001-02 426
2002-03 447
2003-04 463
2004-05 480

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Financial Year Cost Inflation Indexation

2005-06 497
2006-07 519
2007-08 551
2008-09 582
2009-10 632
2010-11 711
2011-12 785
2012-13 852
2013-14 939
2014-15 1024
2015-16 1081
2016-17 1125

Tax on long-Term Capital Gains arising from sale/transfer of units (upto 10th July 2014)
Under the existing provision, long term capital gain are taxable at the rate of 20 %.
However, a concessional rate of 10% is applicable in few cases if the long term capital
gain is calculated without taking into consideration the benifit of indexation. The con-
cessional rate is presently avaiable in the following cases -
1.) Listed shares, listed bonds / debentures.
2.) Government securities.
3.) Units of UTI or a mutual fund (listed or not)
4.) Zero coupon Bonds.

After 10th July 2014

If transfer takes place after July 10, 2014, the above concessional rate of 10 % will not
be available in the case of long term capital gain which arises on the transfer of units.
As long term capital gain on transfer of units of equity oriented mutual funds exempt
under section 10(38) (if securities transaction tax is applicable) the amendment will
increase tax liability only in the case of long term capital gain on transfer of units of debt
oriented mutual fund.

Example 1:
Mr. Kumar had invested Rs 2,00,000 in a Bond Fund (debt-oriented Mutual fund
Scheme ) on June, 2013. He redeemed his investment on September, 2016 and re-
ceived redemption proceeds of Rs 2,85,000.so his Capital Gain is as follows
Rs.200000 X 1125 (CII of 16-17)
_________________ = Rs.239617
939 (CII of 13-14)
The long term capital gain is (Rs.285000-Rs.239617) = Rs. 45383. on which he is re-
quired to pay capital gain tax of Rs. 9077 @ 20% plus education cess.

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Section 54 EC
In order to save capital gain tax, the total amount of Long -Term Capital Gain (after avail-
ing indexation benefit) has to be invested in any of the following two schemes specified
under section 54EC (upto Rs.50 lakhs only):
1. Bonds issued by Rural Electrification Board (REC)
2. Bonds Issued by NHAI (National Highways Authority of India)

NOTE:
The maximum Investment in capital gain tax saving bond can be 50 lakhs only (for sec-
tion 54EC benifits)

Example 2:
Mr. Das bought a flat for Rs 25,00,000 in August 2008. He sold this flat in November
2016 for a net consideration of Rs. 80,00,000. Income tax payable on capital gain of
Rs. 55,00,000 earned by him shall be as follows:

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Adjustment of purchase price:

Purchase Price x (Cost inflation index in the year of sale/ cost inflation index in the year
of purchase)

25,00,000 x (1125/582) = Rs.48,32,475

Thus, Mr. Das has earned a Long Term capital gain of Rs. 31,67,525 (Rs. 80,00,000 -
Rs. 48,32,475). Now, if he decides to pay tax, he has to pay 20% of Rs 31,67,525 (i.e
Rs 6,33,505) along with education cess. Alternatively, he can save this tax liability by
investing Rs 31,67,525 in either of the capital gain bonds as explained while discussing
section 54EC

Important point to note:

1. Short Term Capital Loss can be set off against any capital gain, whether Short
Term or Long Term.
2. However, Long Term Capital Loss can only be set off against Long-term Capital
Gain.
3. Unabsorbed Short-Term Capital Loss can be carried forward for eight years.
4. Similarly, unabsorbed Long Term Capital Loss can also be carried forward for
eight years and can be set off only against Long Term Capital Gain.

Deductions from Taxable Income:

Deduction under section 80C

Under this section, a deduction of up to Rs. 1,50,000 is allowed from Taxable

Income in respect of investments made in some specified schemes.

Specified Investment Schemes u/s 80C and u/s 80CCC

1. Life Insurance Premiums ( in case of life insurance policies issued after March 31,
2004, exemption on maturity payment u/s 10(10D) is available only if the pre-
mium paid in any year does not exceed 20% of the sum assured.

The above provisions has been amended with effect from the assessment year
2013-14 to reduce the threshold of premium payable to 10 per cent of the actual
sum assured from 20 per cent of the actual sum assured .(Applicable only in case
of policies issued on or after April 1,2012)
2. Employee’s Contributions to Employees Provident Fund/GPF
3. Contribution to Public Provident Fund
4. NSC (National Savings Certificates)
5. Unit Linked Insurance Plan (ULIP)
6. Repayment of Housing Loan (Principal)

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7. Equity Linked Savings Scheme (ELSS) of Mutual Funds

8. Tuition Fees including admission fees or college fees paid for full-time education of
any two children of the assessee (Any development fees or donation or payment of
a similar nature shall not be eligible for deduction).
9. Interest accrued in respect of NSC VIII issue.
10. Pension scheme of LIC of India or any other insurance company.
11. Fixed Deposit with Banks having a lock-in period of 5 Years
12. Amount deposited under Post Office Senior Citizens Scheme.
13. Amount deposited in Five Year Time Deposit Scheme in Post Office
14. Amount deposited in the NABARD (Rural Development Bonds of NABARD)
15. Deposit in Sukanya Samriddhi Account.

Notes:
1. There are no sectoral caps on investment in the new section and the assessee is
free to invest Rs. 1,50,000 in any one or more of the specified instruments.
2. Amount invested in these instruments would be allowed as deduction irrespective
of the fact whether (or not) such investment is made out of income chargeable to
tax.
3. Section 80C deduction is allowed irrespective of the assessee’s income level.
Even persons with taxable income above Rs. 10,00,000 can avail the benefit of
section 80C.

Please note that because the deduction is allowed from taxable income, the exact sav-
ings in tax will depend upon the tax slab of the individual. Thus, a person in the 30% tax
slab can save income tax up to Rs. 46350 ( Tax plus education cess ) by investing Rs.
1,50,000 in the specified schemes u/s 80C.

Section 80CCD: Deduction in respect of Contribution to National Pension Scheme (NPS)

Employee’s contribution – Section 80CCD(1)

Allowed to an Individual who makes deposits to his/her NPS account. Maximum deduc-
tion allowed is 10% of salary (in case of taxpayer being an employee) or 10% of gross to-
tal income (in case of tax payer being self employed) or Rs 1,00,000 whichever is less.
The limit of Rs 1,00,000 has been increased to Rs 1,50,000 for financial year 2015-16
(assessments year 2016-17).

Employer’s contribution – Section 80CCD(2)

Maximum deduction available in respect of employer’s contribution is allowed up to
10% of the salary of the employee.

Additional deduction under section 80 CCD(1B)

Section 80CCD(1B) provides additional deduction for amount contributed to NPS of
up to Rs 50,000.

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Therefore Total Deduction under Section 80C, 80CCC, 80CCD(1) and 80 CCD(1B) can-
not exceed Rs 2,00,000.

Deduction under section 80CCF (Infra bonds).

No deduction will be available under section 80CCF from the assessment year
2013-14.

This section has been withdrawn/discontinued.

Deduction under section 80CCG (Rajiv Gandhi equity saving scheme).

( In respect of investments made under approved equity saving scheme by a resident
individual assessee)

Section 80CCG has been introduced with effect from the assessment year 2013-14.

Conditions-Deduction under this section is available only if the following conditions are
satisfied

a. Gross total income does not exceed Rs. 12 Lacs.(from the assessment year 2014-15)
b. Assessee has acquired listed shares (or listed units from the assessment year
2014-15)in accordance with a notified scheme.
c. The assessee is a new retail investor as specified in the above notified scheme.
d. The investment is locked in for a period of 3 years from tha date of purchase in
accordance with the above scheme.

Amount of deduction-
The amount of deduction is 50% of amount invested in notified equity shares (or listed
units from the assessment year 2014-15) provided all the above conditions are satis-
fied. However, the amount of deduction under this section cannot be more than Rs.
25,000.

Period of deduction -
If any deduction is claimed by a taxpayer under section 80CCG for the assessment
year 2013-14, he shall not be entitled for any deduction under this section for any sub-
sequent year. However , this provision has been amended from the assessment year
2014-15. The modification provision permits deduction for three consecutive assess-
ment years,beginning with the assessment year relevant to the previous year in which
the listed equity share or listed units of equity oriented fund are first acquired.
This scheme is open to new retail investor.It is also open to those who have opened the
demat account but have not made any transection in stock and/or in derivatives till the
date of notification of this scheme.

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Deduction under section 80D (Health / Medical Insurance)

Under this section, deduction of up to Rs 60,000 can be claimed in respect of pre-
mium paid by any mode other than cash* towards health insurance policy of various
General Insurance companies like Apollo Munich’s easy health and optima plus(top up
plan),Max Bupa health companion ,Star Health’s Senior Citizen-Red Carpet etc.. Such
premium can be paid towards health insurance of spouse, parents as well as depend-
ent children. as per following table:

Scenarios Health Insurance premium paid for & Maximum

tax deduction limits
Self Spouse & Parents (whether Total Deduction
Dependent Children dependent or not) under Section 80D
No one in your family has up to Rs.25000 up to Rs.25000 Rs.50000
attained 60 years of age
The eldest member in your up to Rs.25000 up to Rs.30000 Rs.55000
family (yourself, spouse
and dependent children)
is less than 60 years &
your parents (either mother
or father) are above 60
years of age)
The eldest member in up to Rs.30000 up to Rs.30000 Rs.60000
your family (yourself,
spouse and dependent
children) has attained
60 years & your
parents (either mother
or father) are above
60 years of age)
* Payment should be made by any mode other than cash. However payment on account
of preventive health check up can be made by any mode (including cash).

Accordingly a person who falls in the 30% tax bracket can save income tax up to Rs
18,540/- ( Tax plus education cess ) by paying Rs 60,000/- as premium for “Health
Insurance” policy in a year.

Deduction under section 80EE

Deduction in respect of intrest on loan taken for residential house property (sec 80 EE,
applicable from the assessment year 2017-18 pnwards )
Deduction u/s 80EE is available if the following conditions are satisfied_
1) The assessee is an individual.
2) He has taken a loan from a financial institution.Financial instituion is a bank or a
house financial company
3) The loan has sanctioned by the financial institution during the F.Y 2016-17.

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4) The amount of loan sanctioned for aquisition of the residential house property
does not exceed Rs.35 Lakh.
5) The value of residential house property does not exceed Rs.50 lakh.
6) The assessee does not own any residencial house property on the date of sanc
tion of loan.

Amount of deduction
If the above condition are satisfied,the assessee can claim deduction under sec-
tion 80EE. Deduction is available in respect of interset payable on the above loan or
Rs.50000 whichever is less. Deduction is available for the AY 2017-18 and subsequent
assessment year.

If the deduction is claimed u/s 80EE,no deduction will be allowed in respect of such
income under any other provision of the Act for the same or any other assessment year.

Deduction under section 80TTA

Section 80TTA has been introduced with effect from the assessment year 2013-14. It
provides a maximum deduction up to Rs.10,000 to an assessee ( being an individual
or a HUF) in respect of any income by way of interest on Saving Accounts with Banks/
Post Office.

Post office savings bank interest exemption under section 10 (15) (i) -Post office sav-
ings bank intrest is exempt up to Rs. 3,500 (in an individual account) and Rs. 7000 (
in a joint account) U/s 10(15)(i) cumulative impact of sections 10(15)(i) and 80TTA is
as follows-
Intrest on post office savings bank U/s 10(15)(i) Exemption up to Rs. 3,500 in a
single account and Rs.7,000
in a joint account
Intrest on savings account with bank /post office Deduction up to Rs. 10,000
u/s 80TTA
Rebate Under section 87A
Rebate of Rs. 2,000 for resident individuals having total income up to Rs. 5 lakh.

This rebate will be available if the following two conditions are satisfied-
1) Taxpayer is a resident individual,
2) His total income or net income or taxable income ( gross total income
minus deduction under sections 80C to 80U) is Rs.5 lakh or less.

The amount of rebate is 100 per cent of income tax or Rs. 2,000, whichever is less.Max-
imum rebate avaiable under section 87A has been increased from Rs.2000 to Rs.5000
with effect from AY 2017-18. Rebate under this section is not available in the case of
a non-resident individual,resident or non-resident HUF/AOP/BOI or any taxpayer other
than resident individual.

A Bajaj Capital Publication

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

Deduction under section 24(b)

Under this section, interest on borrowed capital for the purpose of house purchase or
construction is deductible from taxable income up to Rs. 2,00,000 with some condi-
tions to be fulfilled.

An Example of Prudent Tax Planning

Mr Amit, 35, a manager in a MNC earns an annual salary income of Rs. 13,90,000/-.
He has existing investments of Rs 2 lacs in 8% GOI Bonds and Rs 2 lacs in 6.5% Tax-
Free Bonds. He has also taken housing loan. In the F.Y. 2016-17, he shall pay a total
sum of Rs 2,00,000/- towards the refund of Housing Loan and the break-up will be Rs
40,000/- as principal and Rs 1,60,000/- as Interest. His contribution to PF has been Rs
20,600/-. He also has earned Rs 18,500/- from interest of his Savings Bank Account.
He visits his Reletionship Manager at Bajaj Capital Centre for tax saving. His Relation-
ship Maneger at Bajaj Capital Centre facilitated the following:

1. Contribution to a Ulip Plan (IPRu Life) for Retirement with a premium of Rs.40,000/-
2. Contribution to a Child Plan (HDFC Life Youngstar Udaan) for Child’s education with
a premium of Rs 40000/-
3. SIP Contribution into Axis Long Term Equity Fund (ELSS Fund) worth Rs 3,000/
monthly
4. Contribution into Cigna TTK( Health Insurance) worth Rs 15,000/-
5. Contribution into National Pension system ( NPS ) 50000

Particulars   Amount
Salary   1390000
Income from other sources (Interest on Taxable GOI Bonds)   16000
Interest Income from Savings Bank Account 18500
Taxable Income   1424500
LESS:
1. Deduction u/s 24(b)    
Interest on Housing Loan 160000
2. Deduction u/s 80C , 80CCC(1) and 80 CCD (1B)    
Ulip Plan (I Pru Life) 40000  
Child Plan (HDFC Life Youngstar Udaan) 40000
Contribution to PF 20600  
Housing Loan Repayment 40000  
M F Investment into Axis Long Term Equity Fund (ELSS Fund) 36000  
Contribution to NPS 80 CCD (1B) 50000
  226600
Restricted to   200000
3. Deduction u/s 80TTA
Interest Income from saving bank Account 18500

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

Particulars   Amount
Restricted to   10000
4. Deduction u/s 80D
Apollo Munich’s( Health Insurance) 15000
TOTAL DEDUCTION 385000
Net Taxable Income   1039500
Income Tax Liability:    
0-2,50,000   0
2,50,001-5,00,000 @ 10%   25000
5,00,001-10,00,000 @ 20%   100000
10,00,001-10,39,500 @ 30%   11850
Total Income Tax   136850
Education Cess @ 3%   4106
Total Income Tax payable by Mr. Abhay   140956

The total tax liability of Mr. Amit without Tax Planning investments under section 80C
and 80D is Rs. 2,07,391 (tax-Rs 2,01,350, education cess Rs. 6041) The tax liability
after investments under section 80C, and 80D is reduced to Rs. 1,40956. Hence, Mr.
Amit has saved Rs 66435 in taxes (Rs.207391-Rs. 1,40,956) and also has secured his
future by Planning for his retirement and children eduction etc.
Example of Prudent Investment cum Tax Planning for a ‘Just retired’ person.

Professor Ramesh Kumar retired at the age of 65 years as Dean of a University on April
1, 2015 after a long and rich academic career. He received total retirement benefits
amounting to Rs.35.5 lacs, including Provident Fund, Gratuity, Leave encashment etc.
Prof.Kumar is entitled to a life long monthly pension of Rs.25,000/-. Also he has a
PPF Account where the accumulated balance is Rs.7.6 lacs. Besides, 15 years ago he
bought a mediclaim plan covering himself, his wife and he is regularly paying health
insurance premium of Rs.20,000/- per annum, to New India Assurance Company Ltd.

Just after retirement, Prof. Kumar consults his Relationship Manager at Bajaj Capital
and decides to invest his retirement benefits of Rs.35.5 lacs as per details given below:
Name of the Scheme Amount
a) 10% Fixed Deposit with his Bank 1700000
b) Post office MIS 450000
c) Investment in Templeton India short term income plan 250000
d) Equity Mutual Funds ( Dividend Option) 600000
e) Contribution to PPF Account 40000
f) Systematic Investment Plan (SIP) in ELSS scheme (HDFC Tax Saver) @ Rs.5000/- pm 60000

g) Premium of Mediclaim 20000
h) Balance in Post Office Saving Bank a/c 100000
i) Balance left in Saving Bank a/c with his bank for day - to - day needs and Emergency purpose 330000
TOTAL 3550000

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

Tax liability of Prof. Ramesh Kumar for Financial Year 1st April 2015 to 31st March 2016
will be computed as under:-
Particulars Total Income Tax free Taxable
Income Income
a) Pension ( 30000 x 12 ) 360000 360000
b) Intrest Income on 10% Fixed Deposit from Bank 170000 170000
c) Intrest Income on Post office MIS @7.7% 34650 34650
d) Dividend from Templeton India short term income
(Assuming annual return to be 6% per plan annum) 15000 15000
e) Dividene @ 10% from Equity Mutual Funds 60000 60000
f) Intrest on PPF Account (Intrest @ 8.1% on 800000/-) 64800 64800
g) Intrest on post office Saving Bank a/c 4000 3500 500
h) Balance left in Saving Bank a/c with his bank for
day to day needs and Emergency purpose @ 4% pa 13200 13200
Total : 721650 143300 578350

Computation of Taxable Income Amount(Rs.) Amount(Rs.)

Total taxable Income 578350
Less: Deduction u/s 80 C
(for contribution to PPF,Bank FD & ELSS) 150000
Deduction u/s 80D 20000
(Mediclaim premium)
Deduction u/s 80TTA 10000
( Intrest on saving bank account upto Rs.10000/-)
Total Deduction from taxable income 180000
Net Taxable Income 398350

Calculation of Income Tax:-

First 3,00,000/-
Balance 98350/-@ 10% 9835
Less:Rebate u/s 87A 5000
Income Tax 4835
Add: Education Cess @ 3% 145
Total Tax payble 4980
Thus, Prof. Kumar has to pay total tax of Rs.4980/- only on his Total Income of Rs
721650/- with the help of efficient tax saving executed by the Relationship Manager at
Bajaj Capital.

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

Thus, Prof. Kumar has to pay total tax of Rs.2215/- only on his Total Income of Rs
664380/- with the help of efficient tax saving executed by the Relationship Manager
at Bajaj Capital.

Important Note:
1. Out of the total retirement benefits of Rs.35.5 lacs, Rs.21.50 lacs have been invested
in fixed income interest bearing safe investment schemes to ensure regular flow of
assured income.
2. An amount of Rs 6.00 lacs has been invested in Mutual Funds to ensure proper As-
set Allocation,
3. An amount of Rs.2.50 lacs is invested in short term scheme of Mutual Fund to en-
sure
a) Liquidity
b) Tax free dividend.
4. Rs.60,000/- is invested in ELSS scheme through SIP
a) To save tax u/s 80 C
b) To reap the benefits of stock market by disciplined investments.
5. Return from investment in ELSS Scheme can be received either as dividend or as
long term capital gain after 3 years.

Dividend as well as long term capital gains from ELSS scheme are exempt from income
tax.

Please remember that there is a lock-in of 3 years in ELSS Scheme. Also investments in
ELSS Schemes are subject to market risks.

Example 2
Prudent Investment cum Tax Planning for a ‘Just retired’ person.

Mr. Ojha retired at the age of 60 years from a senior position in a reputed MNC on
June 1, 2016. He received total retirement benefits amounting to Rs.2.20 Cr., includ-
ing PF, Gratuity, Leave encashment etc. His own existing investments corpus in equity,
debt, ppf, tax free bonds, etc. is 2.40 Cr. Mr. Ojha is entitled to a lifelong monthly pen-
sion from superannuation fund @ Rs.100000/-. Besides this he also has an existing
mediclaim plan covering himself, his wife and he is regularly paying health insurance
premium of Rs.25000/- per annum to New India Assurance Company Ltd.

Just after retirement, Mr.Ojha consults his Relationship Manager at Bajaj Capital Ltd.
and decides to rebalance his toal portfolio as per details given below:

Existing Investments Amount

a) Open Ended Debt Fund 15000000
b) Tax Free bonds 5000000
c) PPF 4000000
d) Bank A/C (Retirement Benefits) 22000000
TOTAL 46000000

A Bajaj Capital Publication

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

After Implenting Rebalancing Recommendation given by his relationship manager in Bajaj Capital

Name of the Scheme Amount

a) Open Ended Debt Fund in Dividend option (Assuming return@8% P.A.) 15000000
b) Post office MIS (In Joint Names @ 7.7% P.A.) 900000
c) Investment in Templeton India short term income plan (Dividend Option) 400000
d) Open Ended Diversified Equity MF Schemes in Dividend option (Assuming return@12% P.A.) 20000000
e) PPF Account 4000000
f) Tax Free bonds 5000000
h) Premium of Med-claim 25000
I) Balance in Post Office Saving Bank a/c 100000
j) Balance left in Saving Bank a/c with his bank for day - to - day needs and Emergency purpose 575000
46000000
His Tax Liability Calculations
Particulars Total Income Tax free Taxable
Income Income
a) Pension ( 100000 x 12 ) 1200000 1200000
c) Interest Income on Post office MIS @ 7.7% 69300 69300
e) Dividend received from Debt Fund Investment 1200000 1200000
(Assuming return@8% P.A.) on 1.5 Crores
f) Interest on Tax Free bond @ 6.5% P.A. on 50 lacs 325000 325000
g) Dividend received from Templeton India short term income 24000 24000
plan (Assuming return@ 6% P.A.)
h) Dividend received from Open Ended Diversified Equity 2400000 2400000
MF Schemes in Dividend option (Assuming return @ 12% P.A.)
I) Interest on PPF Account (% @ 8.1% on 4000000/-) 324000 324000
j) Interest on post office Saving Bank a/c 4000 3500 500
k) Interest on Balance left in Saving Bank a/c with his bank for 23000 23000
day to day needs and Emergency purpose @ 4% pa
Total : 5569300 4276500 1292800

Computation of Taxable Income Amount(Rs.) Amount(Rs.)

Total taxable Income 1292800
Less: Deduction u/s 80 C
(for contribution to PPF,Bank FD & ELSS) 150000
Deduction u/s 80D (Mediclaim premium) 25000
Deduction u/s 80TTA 10000
( Intrest on saving bank account upto Rs.10000/-)
Total Deduction from taxable income 185000
Net Taxable Income 1107800

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

Net Income Range Income Tax Surcharge

Up to Rs. 3,00,000 Nil Nil
Rs.3,00,001 to Rs.5,00,000 10% of the income above 20000
Rs.3,00,000
Rs. 5,00,001 to Rs. 10,00,000 20% of the income above 100000
Rs. 5,00,000
Rs.10,00,001 to Rs.1107800 30% of income above 32340
Rs. 10,00,000
Tax before additional education cess 152340
Add: Education Cess @ 3% 4570
Total Tax payable 156910

Thus, Mr. Ojha has to pay total tax of Rs.156910/- only on his Total Income of Rs
5569300/- with the help of efficient tax saving executed by the Relationship Manager
at Bajaj Capital.

The total tax liability of Mr. Ojha without proper Tax Planning would have been Rs.
1535514 (tax-Rs 1490790, education cess Rs. 44754). However after proper planning
& investments v/s 80C & 80D, the tax liability is reduced to Rs. 156910. Hence, Mr.
Ojha has saved Rs 1378604 in taxes (Rs. 1535514 - Rs. 156910) and also has secured
his future by Planning for his comfortable retirement life.

Conclusion: Every citizen has a fundamental right to avail all the tax incentives provided
by the government. Therefore, through prudent tax saving, not only is the income tax
liability reduced, but also a better future is ensured due to compulsory savings in highly
safe government schemes. We sincerely advise all our readers and clients to plan their
investments in such a way that the post-tax yield is the highest possible keeping in view
the basic parameters of safety and liquidity.

Disclaimer: Bajaj Capital Limited (BCL) has taken due care and caution in compilation
and presenting factually correct data contained hereinabove. While BCL has made
every effort to ensure that the information /data being provided is accurate, BCL does
not guarantee the accuracy, adequacy or completeness of any data/information in the
guide and the same is meant for the use of the recipient and not for circulation. Read-
ers are advised to satisfy themselves about the merits and details of each investment
scheme before taking any investment decision. BCL does not hold themselves liable for
any consequences, legal or otherwise, arising out of use of any such information / data
and further states that it has no financial liability whatsoever to the recipient /readers
of this guide. BCL nor any of its directors /employees /representatives accept any li-
ability for any direct or consequential loss arising from the use of the information/data
contained in the guide or any information/data generated from the guide .Any dispute
arising in future shall be, subject to the exclusive jurisdiction of court(s) at Delhi.

A Bajaj Capital Publication

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

Instructions for filling out FORM ITR-1

This Return Form is to be used by an individual whose total income for the assessment
year 2014-15 includes :-
(a) Income from salary
(b) Income from one house property (excluding cases where loss is brought forward
from previous year)
(c)Income from other sources (excluding from winning from lottery & income from race
horses)

Instructions for filling out FORM ITR-2

This Return Form is to be used by an individual or a Hindu Undivided Family whose total
income for the assessment
year 2014-15 includes:-
(a) Income from Salary / Pension; or
(b) Income from House Property; or
(c) Income from Capital Gains; or
(d) Income from Other Sources (including Winning from Lottery and Income from Race
Horses).

Instructions for filling out FORM ITR-3

This Return Form is to be used by an individual or an Hindu Undivided Family who is a
partner in a firm and where income chargeable to income-tax under the head “Profits or
gains of business or profession” does not include any income except the income by way
of any interest, salary, bonus, commission or remuneration, by whatever name called,
due to, or received by him from such firm. In case a partner in the firm does not have
any income from the firm by way of interest, salary, etc. and has only exempt income
by way of share in the profit of the firm, he shall use this form only and not Form ITR-2.

Instructions for filling out FORM ITR-4

This Return Form is to be used by an individual or a Hindu Undivided Family who is car-
rying out a proprietary business or profession.

Instructions for filling out FORM ITR-5

This Form can be used a person being a firm, LLPs, AOP, BOI, artificial juridical person
referred to in section 2(31)(vii), cooperative society and local authority. However, a per-
son who is required to file the return of income under section 139(4A) or 139(4B) or
139(4C) or 139(4D) shall not use this form.

Instructions for filling out FORM ITR-6

This Form can be used by a company, other than a company claiming exemption under
section 11.

Instructions for filling out Form ITR-7

A Bajaj Capital Publication 25

 Bajaj Capital Network
Tax Saving Guide:: Your Guide to Tax Efficient Living

NORTH REGION Bank , Plot No. 6, Sector-5, Dwarka,

New Delhi – 110075 Ph: 42730057/ 58
Corporate Office Janakpuri: Shop No 11 & 12, 7-A,
Nehru Place: Bajaj House, 97, Nehru DDA Building, Janakpuri Dist. Centre
Place, New Delhi - 110 019 Ph.: (Opp. Janakpuri Transport Authority),
41693000. New Delhi - 110058. Ph: 64736912,
64640917, 25552675
DELHI ZONE Kirti Nagar: Shop No. 3, Ground
Central Delhi Floor, B-5, Tagore Market (Near
Connaught Place: United India Life Metro Pillar no.338), Kirti Nagar,New
Building, F19-Block, Connaught Place, Delhi-110015 Ph: 64736922,25117531,
New Delhi – 110001. 011-41790444 (30 25113659
Lines), 23356158 Paschim Vihar: G-8&9, Ground
Rajendra Place: 9, Ground Floor, Floor, Bhanot Tower, A-Block Opp.
Rajendra Bhawan, Rajendra Place (Opp. Jawala Heri Market, Paschim Vihar, New
Rachna Cinema), New Delhi-110008 Ph: Delhi-110063. Ph: 64640929, 64736947
25734989, 41538597
SOUTH DELHI
NORTH DELHI Bhikaji Cama Place: Shop No-UGF-
Ashok Vihar: Shop no. 15, Ground 1,Mohta Building, Bhikaji Cama Place,
Floor, Deep Cinema Complex, Ashok New Delhi –110066, Land Mark-Above
Vihar,Phase-I, Delhi -110052 Ph.: Honda Show Room. Ph: 26188644/
64640908, 27461651 64736916/ 64640910
Pitampura: DDA Shop No,8 FD Defence Colony: B-87, Ist floor, De-
Market, Near Madhuban Chowk, fence colony, New Delhi- 110024. Ph:
Pitampura, Delhi-110034Ph /27312742 64640913, 41553182, 24338180
/27315056/ 42455621 Yusuf Sarai: 18 &19, DDA
Market,Commercial Complex, Yusuf
EAST DELHI Sarai, New Delhi-110016 Ph: 41841143
Patparganj: DDA Shop No. 24, Kalkaji: N-10, Kalka-
Ground Floor, Rama Krishna ji, New Delhi-110019 Ph:
Market, No.1, I. P. Extension, 26223507,64736914,64640919
Patparganj,Delhi-110092 Ph. 64640931, Nehru Place: 97, Bajaj House, Ground
22233120 Floor, New Delhi - 110003. Ph. 011-
Karkardooma: G-14, Sachdeva Tower, 39881010
Plot No.17, Community Center, Near Vasant Kunj: 15 LGF Central Market,
HDFC Bank, Karkardooma, New Del- Masoodpur Vasant Kunj, New Delhi-
hi-110092 Ph: 011-42420905, 40586975, 110070 Ph No. 26897632, 26136319
64736909 Malviya Nagar: C-31, Malviya Nagar,
Near HDFC Bank, New Delhi-110017,
WEST DELHI Ph: 011-64736907, 64731325
Dwarka: F-4, HL Square, Above ICICI

A Bajaj Capital Publication

26
NATIONAL CAPITAL REGION UTTAR PRADESH
Gurgaon: Sec 14,Tax Saving
Shop No:Guide:: Your Guide
114, 115  Agra:to Shop
Tax Efficient
No.-110,Living
Ground Floor,
AKD Tower, Upper Ground Floor, Block No. 27/2/4, Sanjay Palace, Near
Near HUDA Office, Gurgaon-122001. Hotel Panchrattan Agra-282002. Ph:
Ph. 0124- 6468101, 4062590 0562- 6457307-8 ,4000953, 2521448
Noida-Sec-29: A-2, Brahmputra Com- Allahabad: Shop No. F-5 Indira
mercial Complex, Near Rail Reservation Bhawan, Civil Lines, Allahabad-211001,
Centre, Sec. 29, Noida-201301 Ph: 0120- Ph: 0532-6452481, 07080278600,
6494074 - 75, 6493213,2451496,2450100 9971666493
Noida-Sec-41: C-20, C Block Market, Kanpur: 106, Ratan Esquire, 14/144,
Sector-41, Noida-201301. Ph: 95120- Chunni Ganj, Kanpur 208001. Ph:
4340111, 6494077 - 78 0512-3076368
Greater Noida: G10, Krishna Apra Lucknow Hazratganj: 2nd Floor,
Royal Plaza (Next To Icici Bank) Commerce House, Habibullah Com-
Alpha -1, Commercial Belt, Greater pound, 11, M.G. Marg, Hazratganj,
Noida 201310, Ph: 9136771657, Mob: Lucknow-226001 Ph. 0522-4039500,
510 , 505 to 515
9990454307, 0120 - 4291569
Lucknow Gomti Nagar: C-204, UGF,
Faridabad: 5R/1 Ground Floor,
Sahara Plaza, Patrakar Puram, Gomti
B.K. Chowk, Near HDFC Bank, NIT Nagar Lucknow 226010, Ph.: 0522-
Faridabad - 121001 Ph: 0129-4035241, 4060909, 4060909 , 4951809
0129 – 6466564 Meerut: G-28, Ganga Plaza, Near
Ghaziabad: G-5 & 6, Ansals Satyam Begam Bridge, Meerut-250001 Ph.
Building, Raj Nagar, District Centre, 0121-6451510 / 11, 4051709
Ghaziabad-201002, Ph: 0120-6493211, Varanasi: D-58/53-54, Shiva Complex ,
2824330,2822407 Ist floor , Rath yatra Crossing, Varanasi
Vaishali: Shop No. 4, 1st Floor, Lajwan- – 221010 , Mob: +91 9795652233, +91
ti Plaza, Sector-4, Main Market, Vaishali, 9454945925
Ghaziabad.(u.p.) Ph:(0120)4349460-61 ,
Sonepat: Opp. Old Civil Hospital, Rail- RAJASTHAN
way Road, Sonepat-131001 Ph: 0130- Ajmer: Ground Flr, Shop No-12, Ajmer
6451297, 6451256 ,2240623 Tower, Kutchery Road, Ajmer- 305001
Ph: 0145-6451231 - 32
NORTH ZONE Jaipur: G-3, Anukampa Tower, Opp.
Sangam Tower, Church Road (M.
PUNJAB I. Road) Jaipur-302001, Ph: 0141-
Chandigarh: SCO 341 - 342, First Floor, 6503342/43
Sector 35B, Chandigarh 160022. Ph:
0172-4653341, 0172-5089190, UTTARAKHAND
Ludhiana:  Ground Floor, SCO- Dehradun: Shop No- 1, Windlass
Shopping Complex, Ground Floor,
137, Feroze Gandhi Market, Ludhi-
11-A Rajpur Road, Dehradun-248001.
ana-141001. Ph:0161-6451629-30,
Ph: 0135-6452648 – 49
4612287
MADHYA PRADESH WEST REGION
Bhopal: Shop No. 6&7, First Floor, Jyoti Fort : Agr Bldg., Ground Floor, 7/9
Cinema Complex, M.P. Nagar, Zone1, Oak Lane, Fort , Mumbai - 400023.
Bhopal-462011 Ph: 0755- 4229297, Ph no.022 – 66376999 Call Center :
6459550 66104596,57,58,59,55

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

Regional Office: Unit no - 941 , Bldg no – 9 , 4th Floor , Solitaire Corporate Park
, Andheri Kurla Road , Chakala , Andheri (E) , Mumbai - 400093.,Ph no 022 -
40099999. Fax No: 40099911
Andheri (W): A-24, Laram Shopping Center, S V Road, Andheri (W) Mumbai –
400058. Ph no. 022 – 65210112 / 65210116/64501765
Bhayandar: Rashesh Bldg , Shop no 11 ,1st Floor, Near Maxus Mall150 ft Road ,
Bhayandar (W), Thane - 401104. Ph no.022 – 65991662 / 73
Borivali: Shop no 2, Nandkumar Appartment, Ground floor , Shimpoli Road,
Factory lane, near Gokhale School, Borivali (W), Mumbai :- 400 092, Ph no –
65991664 / 65/65566923.
Chembur: Room no 1, Gr Floor, Sunil Sadan , Opp. Grand Central Restau-
rant M.D.S. Marg , Chembur (E) , Mumbai – 400071. Ph no.022 – 65991667 /
68/64500797
Dadar: Shop no 5 ,Abdul Kadar Jilani Bldg ,Gokhale Road , Opp. .Portguese
Church, Dadar (W), Mumbai - 400028. Ph no. 022 – 65991666/69 / 70/64527426
Ghatkopar(E): 205, 2nd Floor, Atlantic Commercial Complex, Above Vodaphone
Gallery, R.B. Mehta Marg, Ghatkopar (East), Mumbai – 400077. Ph no. 022 -
25010904/65991678/64534952.
Sion: Shop no 3, Chaman House Co-operative Hsg. Society, Plot no 34, Beside
IDBI Bank Atm, Sion (E), Mumbai - 400022. Ph no. 022 – 64518004 / 65991677.
Tardeo: Shop no 3 , 5th Floor , Tardeo, A C Market , Mumbai - 400034. Ph no. 022
- Ph 64534950 / 64534954/65991663.
Thane: Office No: 204, Cosmos Avenue Premises, Opp. Thane Railway Station,
Station Road, Thane (W) 400 602 Ph: 022 - 65991678/65210113/65971078/64527
352.
Kharghar: No 19, 1st Floor, Crystal Plaza,
Hiranandani complex,Sector 7, Kharghar-410210 Ph.No: 022-65991674/75

MAHARASHTRA
Nagpur: Shop No B-S1, Amarjyoti Palace, Wardha Road , Dhantoli Near Lokmat
Square Nagpur 440012 Tel – 0712 – 6618576/77. 6518576
Nashik: G-18 & 19 , Suyojit Sankul , Tilak Wadi , Sharanpur Road , Nashik –
422002. Ph no. 0253 – 6629011 / 14.
Pune Subhash Nagar: Shop No.24 & 25, Sanas Plaza, 1302 Subhash Nagar,
Bazirao Road, Pune -411002. Ph no.020 - 65009460 / 61.
Pune Bhandarkar Road: Suyash Plaza, Office No.08 , 3rd Floor, Opp Yes Bank
Bhandarkar Road , Nr.Kamala Nehru Park, Pune - 411004. Ph no. 020-65009463/
64/65/67, 64510049, 64510050, 65212151

GUJARAT
Ahmedabad: 2-L Akik Opp Lions Hall, Mithakhali Six Road,Near Nalanda Hotel,
Ellisbridge, Ahmedabad-380006 Ph no. 079 – 40105555/30015502/2203/5505/550
7/5514/5516/5519

A Bajaj Capital Publication

28
 Tax Saving Guide:: Your Guide to Tax Efficient Living

Rajkot: 205, Metro Plaza, 2nd Floor, Near Ratnam Hospital, Janasata Chowk, Ra-
jkot-360001. Ph no. 0281-6450135/36
Vadodara: 106 -107 , 1st Floor, Siddharth Complex, R.C. Dutt Road,Alkapuri,
Vadodara – 390005. Ph no. 0265 – 6450181, 6459309,6450274,6450273

SOUTH REGION
Regional Office: Wellington Plaza, IIIrd Floor, 90, Anna Salai, Chennai-600 002.
Ph : 23451234, Fax : 2345 1222
Anna Salai: No. 19, Wellington Plaza, Ground Floor, 90, Anna Salai, Chennai-600
002. Ph : 23451207, 23457307
Adyar: K.R. BUILDINGS, 12, L.B. Road, Adyar, Chennai - 600020. Ph : 23451232,
23451233
Anna Nagar: W.111, First Floor, 3rd Avenue, Anna Nagar, Chennai - 600 040. Ph :
23451243, 23451244
Mylapore: Bajaj Capital Ltd. Ground Floor, No. 185/2, New No. 246 Royapet-
tah High Road (OPP : Naihaa Showroom) Mylapore, Chennai - 600 004. Tel :
23451241, 23451242
T. Nagar: Bridge Port, New No. 29, Old No. 12, Burkit Road, T.Nagar, Chennai
-600017. Ph : 23451230, 23451231
Nanganallur: Shop No. 4, Plot No. 3, 29th Street, Nanganallur, Chennai- 600061.
Ph: 22247046, 22247047
Ashok Nagar: Shop No. 4, Trinity Complex, No.110, 4th Avenue, Ashok Nagar,
Chennai - 83. Ph : 23451204, 23451286/87/88
Velachery: Shop No.5, Ground Floor, Vikas Plaza, 37/C, Velachery, Tambaram
Road, Chennai - 42. Ph : 22434994, 22430129
Kottivakkam: 59/20, 1st Floor, South Mada Street, Thiruvanmiyur, Chennai 600
041, Tel : 044 49795555

TAMIL NADU ZONE

Coimbatore: R.S Puram: No. 575, D.B. Road, First Floor, R.S. Puram, Coim-
batore-641 002. Ph: 0422 - 2540257 / 2555565 / 2555566
Coimbatore: Avinashi Road: Damodar Centre, No. 1050, Avinashi Road, Coim-
batore - 641018. Phone : 0422 - 2245050, 2248188
Karur: Chella Chambers 1st Floor, #74, Covai Road, Karur - 639002. Ph : 04324 -
241415 / 241416
Madurai: Suriya Towers, No.5, First Floor, 272/273, Good Shed Street, Madurai -
625 001. Ph : 0452-2345863 /2345884
Trichy: Swati Arcade, 73/1-f, 1st Floor, Salai Road, Thillai Nagar, Thiruchirapal-
li-620 018. Ph: 0431 - 2763744 / 2763844
Salem: No.22, “Swarnambigai Plaza” Omalur Main Road, Salem-636 009. Ph :
0427- 2440700 / 2441180
Tirunelveli: Shop No. 1, First Floor, K.S. Arcade, Near Byepass Roundana, Van-
narapettai, Tirunelveli - 627 003. Ph : 0462 - 2500432, 33

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KERALA ZONE
Cochin: Bajaj Capital Limited, F-2, 1st Floor, N.J.K Thripthy Building, Opp. to
Medical Trust Hospital, S.A.Road, Valanjambalam, Cochin - 682 016 Ph: 0484-
2370053, 56 & 59
Trivandrum: Haji M Bava Commercial Complex, Ground Floor, Near Old GPO,
Ambujavilasam Road, Trivandrum – 695001. Ph: 0471-2475112/2475251
Palakkad: 1st Floor, S.S. Complex, Near Head Post Office, College Road, Palak-
kad-678 001. Ph : 0491-2545355 / 2545579

KARNATAKA ZONE
Infantry Road: Municipal No.6/4,Union Street,1st Floor, Opp.Lakshmi Vilas Bank,
Infantry Road, Bangalore-560001. Ph:-080-25594999 / 25559273/74
Malleshwaram: No.32, Old No. 292/7, 15th Cross Road, Margosa Road,
Malleswaram, Bangalore – 560003. Ph: 080 - 23564156/57
Indira Nagar: No. 803, 9A Main Road, Ist Stage, Indira Nagar Bangalore - 560
038. Ph : 080-25202657 / 658 / 656 / 659
Rajaji Nagar: 293/1/1, 17th Main Road “D”, IIIrd Block, Rajaji Nagar, Banga-
lore-10. Ph : 080-23387896 / 23357360 / 23507433
Jaya Nagar: No.4, Lakshmi Mansion, 81/B,8th Main Road, Opp. Food World, 3rd
Block, Jaya Nagar, Bangalore -11. Ph : 080-22449643/ 22459388
Koramangala: Ground Floor, No.34, 5th Main, 60 feet road, 5th Block, Koraman-
gala, Bangalore - 560095. Ph: 080 – 25635596 / 97
Mangalore: Essel Towers , Shop No. BS4, Bunts Hostel Circle, Mangalore -03. Ph :
0824 - 4251787.

TELANGANA ZONE
Secunderabad: Legend Crystal, Shop no-4, First Floor, No: 1-7-79/A and B, Man-
dalay Lane, Prendergast Road, Secunderabad-500003. Ph: 040-44555555
Ameerpet: Shop No. 4, Ground Floor, Swarnajayanthi Complex, Near Mythri
vanam, Ameerpet, Hyderabad-500 016. Ph: 040-23737518, 23757519
Kukatpally: Plot No. 964, Ground Floor, Vasanth Nagar Colony, JNTU Metro
Station Nizampet, Kukatpally, Hyderabad – 500 072. Tel : 040 43332323

ANDHRA PRADESH ZONE

Vijayawada: Kalyan Complex, 39-1-89, 1st Floor, Temple Street, M.G. Road, Lab-
bipet, Vijayawada - 520010. Ph : 0866-2492245 / 35
Visakhapatnam: No. 47-9-20, Somunaidu Enclave, 3rd Lane, Near Harsha Labs,
Dwarakanagar, Visakhapatnam-530 016. Ph : 0891- 2506292, 2505957

EAST REGION
Regional office: 10C, Hungerford Street,Ground Floor, Kolkata – 700017 Ph.: 033
4040-4242, 40034039

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

KOLKATA ZONE
Saltlake :- BF 192,Sector 1,Salt Lake, Kolkata-700064. Phone: - 033-4061-1466
,4061-1467 ,4061-1468.
South Kolkata:- 1st Floor,4, Jatin Bagchi Road, Kolkata-700029 Phone: - 033-
4072-1198 ,4072-1197,4072-2025
Lords:- 507, Lords Building,5th Floor,7/1, Lord Sinha Road, Kolkata-700071
Phone: - 033-4061-1457 ,4072-2012 ,2282-0383
Ezra Street:- 9, Ezra Street , 2nd Floor, Kolkata-700001
Phone: - 033-4068-8079 ,4061-1464, 4061-1465
R.N.Mukherjee Road- 507, Lords Building,5th Floor,7/1, Lord Sinha Road, Kol-
kata-700071 Phone: - 033-4061-1458 ,4061-1460,4061-1493
North Kolkata- 3rd Floor, Room No-304,51, Vivekananda Road, Kolkata-700007
Phone: - 033-4005-2635 ,6460-2157
VIP Road- Ground Floor,Shop No- 9, Shreeram Nagar ,Teghoria, VIP Road ,Kol-
kata-700052 Phone: - 033-6457-8625,6457-855519

WEST BENGAL
Siliguri Branch: 3rd Floor, Jatin Das Sarani (Near Jewel Club) Ashram Para ,
Siliguri,Darjeeling-734001 Phone-0353-2643545

JHARKHAND
Jamshedpur Branch: Meghdeep Building 3rd Floor, Room No-6, Q Road Beside
South Park Hotel, Bistupur, Jamshedpur-831001 Phone-0657-6457603, 6457627
Dhanbad Branch:Room No-103/A, 1St Floor, Ozone Plaza 119/A, Bank More,
Dhanbad,Jharkhand Pin Code-9204799896, 0326-6555521

BIHAR
Patna: 108, Ashiana Plaza ,Budh Marg, Patna-800001 Phone-7542025631
,75420256312, 7542025633
Begusarai Branch: Hotel Blue Diamond, Near Alka Cinema, Opp Brt Township,
Begusarai-851117 Phone-8757324466

ORISSA
Bhubaneswar Branch: Plot No-1/A , Ground Floor, Station Square, Kharvel
Nagar-Bhubaneswar-75101 Phone-7852932955,7852932956

ASSAM
Guwahati Branch: 1st Floor, Rohini Apartments Chandmari ,G.N.B. Road Guwa-
hati-781003 Ph: 8811017100,8811034661,8811034653, 8811034654

WEALTH MANAGEMENT CENTRES
Nehru Place: Bajaj House, 97 Nehru Place, New Delhi-110019

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 Tax Saving Guide:: Your Guide to Tax Efficient Living

Mr. Dheeraj Nigam/ Mr. Himanshu Maheshwari /Mr. Dhirender Singh Rawat/Mr.
Rishi/Mr. Ashok, Ph: 011- 41693000, Email: [email protected]/himan-
[email protected]/ [email protected]/ [email protected]/
[email protected]
Mumbai: Unit No. 941, 4th Floor, Building No. 9, Solitaire Corporate Park,
Andheri-Kurla Road, Chakala, Andheri - East, Mumbai - 400093, Mr. Partha Nath,
Ph: 022-40099999/400999200/40099964, Email: [email protected]
Kolkata: 10 C Hunger Ford Street, Ground floor, Kolkata – 700017,
Mr. B.J.Mozumder/Mr. Saubhanik Datta/Mr. Aniruddha Dasgupta, Ph.
033-40512626,E-mail:[email protected]/[email protected]/
[email protected]
Chennai: No. 33/15, 1st Floor, Eldams Road, Alwarpet, Chennai - 600 018, Mr. G
D Sivakumar, Ph: 044 - 23457801 / 02-06, E-mail: [email protected]
Hyderabad: #3-6-522, 4th Floor, Opp. KFC Restaurant, Main Road, Himayathna-
gar, Hyderabad-500029, Mr. K. Bal Reddy, Ph. 040-66347477
E-mail:[email protected]

WEALTH CAFÉ
Noida-Wealth Café: G 53, 2nd Floor, Sector 18, above Peter England showroom,
Noida - 201301, Mr. Manish Sharma, Ph: 0120 – 6457993, 6490107, 4354211 E-
mail: [email protected]
Gurgaon: B-201, Super Mart 1, DLF Phase IV, Gurgaon-122002, Mr. Anshul Sax-
ena Ph: 0124-6469990/6468103, E-mail: [email protected]
Vasant Kunj: Shop No 16, First Floor, Vasant Arcade, Local Shopping Complex,
Nelson Mandela Marg, Vasant Kunj, Delhi - 110070, Ph: 01146560415/16 E-mail:
[email protected]
Bangalore: 869 , 1st floor, 80 feet road 8th cross 8th Block Koramangala Bangalore
560095. Email id:- [email protected], Ph:- 080-25707633/634

Disclaimer: “The author’s opinions, beliefs and viewpoints published in ‘TAX

SAVING GUIDE for the financial Year 2015-16’ are his own views and not of
HDFC Asset Management Company Limited (‘HDFC AMC’)/ HDFC Mutual
Fund (‘ the Fund’) or any of their officers, employees, personnel and directors.
HDFC AMC or the Fund or any of their officers, employees, personnel, directors
do not accept responsibility for the author’s content and make no representation
as to the accuracy, completeness or reliability of the author’s content and hereby
disclaim any liability with regard to the same. “

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