Efficient tax planning is a basic necessity of a tax payer and an essential part of one’s financial planning. It enables you to reduce your tax liability to the minimum. The amount of tax to be paid is calculated on the basis of earnings, investment made, utilisation of deductions/exemptions allowed under the law.

Investing in life insurances, pension plans and health insurances etc are some of the effective ways to save tax.

• Life insurance plans are eligible for tax deduction under Sec. 80C.
• Pension plans are eligible for a tax deduction under Sec. 80CCC.
• Health insurance plans are eligible for tax deduction under Sec. 80D.

To calculate your tax liability for the financial year 2010-2011, Download Tax Calculator