(25th EDITION - FY 2022-23)
SUPER TAX SAVERS’ MOST PREFERRED GUIDE
ALL YOU NEED TO KNOW ABOUT TAX
SCAN
TO SAVE
INDIA’S MOST TRUSTED TAX SAVING SCHEME GUIDE
R E A D W I D E LY B Y I N D I A N S A C R O S S T H E G L O B E
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Tax Saving Guide: Your Guide to Tax Efficient Living
We thank our esteemed clients and readers for their
overwhelming response to the 24th Edition of our
mega popular publication “Tax Saving Guide”.
We are pleased to present the 25th Edition of the
same, which is relevant for the current financial
year, i.e. April 1, 2022 to March 31, 2023
(Assessment year 2023-2024).
Our endeavour is to present the complex provisions
of the Income Tax Act in a simplified manner, which
could be understood by a common investor as well as
by a layman. Your suggestions for any improvement
in this guide are most welcome.
Hurray!
It’s Tax Saving Day!!
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DISCLAIMER;
THIS| GUIDE
IS UPDATED AS ON 22 DEC, 2022
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Tax Saving Guide: Your Guide to Tax Efficient Living
Proper 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 advantages
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 consult 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, 2023, i.e. Assessment Year 2023-24
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Tax Saving Guide: Your Guide to Tax Efficient Living
NEW TAX PAYMENT SYSTEM
In Budget 2020, one new Tax payment system was introduced by the Government. Now
there are two options, old tax payment system and new tax payment system from which
the tax payers have to choose one. In the new tax system, tax rates are lower and slabs
are wider but you can not avail any deductions like standard deduction (Rs. 50,000 for
salaried individuals), section 80C (Rs. 1,50,000), section 80CCD (NPS) (Rs.50,000),
section 80D (Medical insurance), 80TTB (Bank Interest) (Rs. 50,000 for senior citizens),
interest on Housing loan etc.
Individual salaried tax payers can choose either new or old tax payment system and
next year they can again change the choice of old or new, if they wish to. However, if
businessmen tax payers choose new tax system this year, then they can’t revert to old
tax system next year.
In our opinion, old tax payment system is suitable for almost 95% tax payers, as final
tax liability after availing all deductions/exemptions etc will be definitely lower than the
tax liability as computed under new tax system. (Please understand this better with
examples on page no. 06). New tax payment system will be suitable for not more than
5% of such tax payers who are starting their career now and filing their income tax
return for the first time in their life.
OLD TAX SYSTEM (Below Age 60 years)
FOR INDIVIDUALS BELOW THE AGE OF 60 YEARS AS ON 31st March, 2022
TAXABLE INCOME
TAX RATE
SURCHARGE
CESS
Up to Rs. 2.5 Lakhs
Nil
Nil
NIL
Rs. 2.5 lakhs to 5 lakhs
5% of Income above 2.5 lakhs
Nil
4% of Income Tax
Rs. 5 lakhs to 10 lakhs
12,500+20% of income above 5 lakhs
Nil
4% of Income Tax
Rs. 10 lakhs to 50 lakhs
1,12,500+30% of income above 10 lakhs
Nil
4% of Income Tax
Rs. 50 lakhs to 1 crore
13,12,500+ 30% if income above 50 lakhs
10% of Income Tax 4% of Income Tax and surcharge
Rs. 1 crore to 2 crores
28,12,500+ 30% of income above 1 crore
15% of Income Tax 4% of Income Tax and surcharge
Rs. 2 crores to 5 crores
58,12,500+30 % of Income above 2 crores
25% of Income Tax 4% of Income Tax and surcharge
Above Rs. 5 Crores
1,48,12,500+30 % of Income above 5 crores 37% of Income Tax 4% of Income Tax and surcharge
Individuals with Net taxable income less than or equal to Rs. 5 lakhs will be eligible for tax rebate
u/s 87A ( Maximum Rs. 12,500) i.e tax liability will be nil of such individuals in both – New as well
as old tax system
OLD TAX SYSTEM (For age group 60-80 years)
FOR INDIVIDUALS BETWEEN THE AGE OF 60 YEARS TO 80 YEARS AS ON 31st March, 2022
TAXABLE INCOME
TAX RATE
SURCHARGE
CESS
Up to Rs. 3 Lakhs
Nil
Nil
Nil
Rs. 3 Lakhs to 5 Lakhs
5% of the income above Rs 3 lakhs
Nil
4% of Income Tax
Rs. 5 lakhs to 10 lakhs
10,000+20%of Income above 5 lakhs
Nil
4% of Income Tax
Rs. 10 lakhs to 50 lakhs
1,10,000+30% of income above 10 lakhs
Nil
4% of Income Tax
Rs. 50 lakhs to 1 crore
13,10,000+30% of Income above 50 lakhs
10% of Income Tax 4% of Income Tax and surcharge
Rs. 1 crore to 2 crores
28,10,000 + 30% of Income above 1 crore
15% of Income Tax
4% of Income Tax and surcharge
Rs. 2 crores to 5 crores
58,10,000+30 % of income above 2 crores
25% of Inome Tax
4% of Income Tax and surcharge
Above Rs. 5 Crores
1,48,10,000+30 % of income above 5 crores 37% of Inome Tax
4% of Income Tax and surcharge
Individuals with Net taxable income less than or equal to Rs. 5 lakhs will be eligible for tax rebate
u/s 87A ( Maximum Rs. 12,500) i.e tax liability will be nil of such individuals in both – New as well
as old tax system
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OLD TAX SYSTEM (For 80 years and above)
FOR INDIVIDUALS ABOVE THE AGE OF 80 YEARS AS ON 31st March, 2022
TAXABLE INCOME
TAX RATE
SURCHARGE
CESS
Up to Rs. 5 lakhs
Nil
Nil
Nil
Rs. 5 lakhs to 10 lakhs
20% of the income above Rs. 5 lakhs
Nil
4% of Income Tax
Rs. 10 lakhs to 50 lakhs 1,00,000 + 30% of Income above 10 lakhs
NIL
4% of Income Tax
Rs. 50 lakhs to 1 crore
13,00,000 +30% of Income above 50 lakhs
10% of Income Tax
4% of Income Tax and Surcharge
Rs. 1 crore to 2 crores
28,00,000 +30 % of Income above 1 crore
15% of Income Tax
4% of Income Tax and Surcharge
Rs. 2 crores to 5 crores
58,00,000+ 30% of Income above 2 crores
25% of Income Tax
4% of Income Tax and Surcharge
Above Rs. 5 Crores
1,48,00,000+ 30% of Income above 5 crores 37% of Income Tax
4% of Income Tax and Surcharge
NEW TAX SYSTEM (For Any Age)
FOR ALL INDIVIDUALS (ANY AGE)
TAXABLE INCOME
TAX RATE
SURCHARGE
CESS
Up to Rs. 2.5 lakhs
Nil
Nil
Nil
Rs. 2.5 lakhs to 5 lakhs
5% of Income above 2.5 lakhs
Nil
4% of Income Tax
Rs. 5 lakhs to 7.5 lakhs
12500+10% of Income above 5 lakhs
Nil
4% of Income Tax
Rs. 7.5 lakhs to 10 lakhs
37,500+ 15% of Income above 7.5 lakhs
Nil
4% of Income Tax
Rs. 10 lakhs to 12.5 lakhs 75,000+20% of Income above 10 lakhs
Nil
4% of Income Tax
Rs. 12.5 lakhs to 15 lakhs 1,25,000+25% of Income above 12.5 lakhs
Nil
4% of Income Tax
Rs. 15 lakhs to 50 lakhs
1,87,500+30%of Income above 15 lakhs
Nil
4% of Income Tax
Rs. 50 lakhs to 1 crore
12,37,500+30% of Income above 50 lakhs
10% of Income Tax 4% of Income Tax and Surcharge
Rs. 1 crore to 2 crores
27,37,500+30% of Income above 1 crore
15% of Income Tax 4% of Income Tax and Surcharge
Rs. 2 crores to 5 crores
57,37,500+ 30% of Income above 2 crores
25% of Income Tax 4% of Income Tax and Surcharge
Above Rs. 5 Crores
1,47,37,500+ 30% of Income above 5 crores 37% of Income Tax 4% of Income Tax and Surcharge
Individuals with Net taxable income less than or equal to Rs.5 lakhs will be eligible for tax rebate
u/s 87A (Maximum Rs. 12,500) i.e tax liability will be nil of such individuals in both – New as well
as old tax system
Note -
1) For Financial Year 2022 – 23 (Assessment Year 2023 – 24), Rebate u/s 87A- A
resident individual (whose net income does not exceed Rs. 5,00,000) can avail
rebate u/s 87A. It is deductible from income tax before calculating education cess.
The amount of rebate is 100 percent of income tax or Rs. 12,500, whichever is
less.
2) Surcharge –
a) 10% of the Income Tax, where taxable income is more than Rs.50 lakhs and upto Rs. 1 crore. However, the amount of Income Tax and Surcharge shall
not increase the amount of income tax payable on a taxable income of Rs. 50 lakhs by more than the amount of increase in taxable income.
b) 15% of the Income Tax, where taxable income is more than Rs. 1 crore and upto
Rs. 2 crores. However, the amount of Income Tax and Surcharge shall not increase the
amount of income tax payable on a taxable income of Rs. 1 crore by more than the
amount of increase in taxable income.
c) 25% of the income tax, where taxable income is more than Rs. 2 crores and A Bajaj Capital Publication | www.bajajcapital.com
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Tax Saving Guide: Your Guide to Tax Efficient Living
up to Rs. 5 crores. However, the amount of income tax and surcharge shall not increase the amount of income tax payable on a taxable income of Rs. 2 crores by
more than the amount of increase in taxable income.
d) 37% of the income tax, where taxable income is more than Rs. 5 crores. However, the amount of income tax and surcharge shall not increase the amount of income tax payable on a taxable income of Rs. 5 crores by more than the amount of increase in taxable income.
3) Health & Education Cess: 4% of the total of Income Tax and Surcharge.
Examples on how to choose between old tax system and new tax system
Example 01:
Mr Abhishek Srivastav, aged 25 years, got a new job through campus placement. His
annual package for the year ending on 31 March 2023 is Rs. 12 lakhs. He did not opt
for PF and he does not have any life insurance or health insurance policy. Also he does
not have any PPF account or NPS account. His tax liability under the new tax system
will be only Rs. 1,15,000. (please refer table above ). Under the old tax system his tax
liability would have been Rs. 1,72,500. Thus opting for new tax system is good decision
for Abhishek.
Example 02:
Annual income of Miss Susan John is Rs. 12 Lakhs for the financial year ending on
31 March 2023. This includes Rs. 11,80,000 from salary income and Rs. 20,000 as
bank interest income. Besides she has contributed Rs.1.5 lakhs in her PPF account and
Rs. 50,000 in her NPS account. She is also paying home loan instalments and annual
interest for the same is Rs.2 lakhs. She also has health insurance policy with annual
premium of Rs. 25,000.
Now she has to choose between old tax system and new tax system. Under the new tax
system her taxable income will be Rs. 12,00,000 and her tax liability will be
Rs. 1,15,000. (Please see table above.)
Under the old tax system she will get standard deduction of Rs. 50,000+ deduction
under section 80 C Rs. 1,50,000 plus deduction under section 80 CCD Rs. 50,000 plus
deduction under section 80D Rs. 25,000 plus Deduction under section 80 TTA
Rs. 10,000+ Rs.2 lakhs for interest on housing loan.
Her net taxable income will be only Rs. 5,85,000 and tax liability on the same under
the old system will be Rs. 29,500 only. Clearly the old tax system is beneficial for Miss
Susan John.
Filing of Income Tax Return
1. Filing of income tax return is compulsory for all individuals whose gross annual
income 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
Citizens and Rs. 2,50,000 for other individuals and HUFs.
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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. As per new law, a penalty of Rs. 5,000/- will be levied if return is filed after due date
but before 31st Dec of that year & Rs. 10,000/- if filed between 1st Jan to
31st March.
5. However, as relief to small taxpayers, if your income is not more than Rs 5 lakhs, the
maximum penalty levied will be Rs. 1,000.
Tax Free Incomes
The following incomes are completely exempt from income tax without any upper limit.
1. Interest on PPF/EPF/VPF(see note below)
2. Interest on GOI/other approved tax free bonds.
3. Any sum received under a life insurance policy either on the death of the insured
or the maturity of life insurance plan, provided the policy amount (sum assured) is
atleast 10 times of the annual premium.
4. Interest on savings bank account in a post office.(Exempt up to Rs. 3,500 in an
individual account and Rs. 7,000 in a joint account under section 10 (15) (i) ).
5. Long term capital gain on sale of equity shares or redemption of Equity mutual funds
is exempt from tax upto maximum limit of Rs.1 lakh. Definition of long-term is
12 months or longer for the purpose of section 112A.
NOTE:
If an employee’s total contribution to EPF and VPF together in a financial year exceeds
Rs. 2.5 lakhs in a financial year, then the interest earned on the excess contribution will
be taxable in the hands of an employee.
Dividend Income
Dividend income and interest income from various sources is included under the head
“Income from other sources”.
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.
2.
3.
4.
5.
Spouse
Brother or sister
Brother or sister of the spouse
Brother or sister of either of the parents of the individual
Any lineal ascendant or descendant of the individual
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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
Computation of Gross Taxable Income
As per Income Tax, Income of a Person is Computed under the following 5 Heads :
1.
2.
3.
4.
5.
Income from Salaries
Income from House Properties
Profit & Gains of Business & Profession
Capital Gains
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
income by their employers in Form No. 16. It also gives the Net Taxable Salary figure.
All salaried individuals as well as pensioners are entitled to a flat Standard Deduction
of Rs.50,000.
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:
a.
b.
c.
d.
Annual Rental Income.
From this deduct - Property Tax/Municipal tax if any paid by the owner.
From balance amount – deduct 30% towards repairs & maintenance.
From the residual figure – deduct the amount of interest paid on loan taken for the
purchase of the property.
e. The resultant figure is the Income from House Property.
f. Deduction under section 80EE for interest upto Rs.50,000/-
3. Profit from Business/Profession
Income as arrived on the basis of Profit & Loss A/c.
4. Income from Other Sources
Dividend income & interest income from various sources is included under the head
“Income from other sources”
Taxable Incomes:
1. Dividend income from listed /unlisted companies/Mutual funds.
2. Interest on company deposits.
3. Interest on debentures/bonds.
4. Interest on post office savings schemes like MIS, NSC, Time Deposit
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Senior Citizen Savings Scheme etc.
5. Interest on savings bank account/ fixed deposits with banks
6. Interest On Pradhan Mantri Vaya Vandan Yozna.
7. Interest on private loans given to relatives, friends or any other entity.
8. Interest on government securities.
9. Any other income.
Tax Deduction at Source (TDS)
1. Interest payments by companies on Fixed Deposits.
Income tax is deducted @10% in case the interest exceeds Rs. 5,000 in a financial
year.
2. Interest payments by Financial Institutions /Banks.
Income Tax is deducted @10% in case the interest amount exceeds Rs. 10,000 in a
financial year.
3. 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. 50,000 in a
financial year.
4. 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, the tax will be deducted at the rate of 20 percent.
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 individuals
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 on a profit. The
treatment 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.
Capital Gains on Shares/Equity mutual funds
When listed companies equity shares are sold or Equity mutual fund investments are
redeemed in less than one year from the date of investment, profit or gain is treated
as Short Term Capital gain, and tax is payable on the same at a flat rate of 15%. For
example, Mr. Mehta invested Rs. 10 lakhs in the ABC midcap equity fund on 10th April
2022 and redeemed the same on 30th November 2022 for 12 lakhs. Mr. Mehta has
earned Rs. 2 lakhs as Short Term Capital gain, and he will have to pay tax @15%, i.e.,
Rs. 30,000 plus cess.
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Similarly, when listed companies’ equity shares are sold or Equity mutual fund
investments are redeemed any day after one year from the date of investment, profit or
gain is treated as Long Term Capital Gain, and tax is payable on same at a flat rate of
10% subject to rules/conditions mentioned below.
If total Long term capital gain is less than or equal to Rs. 1 lakh, no tax is payable. Tax
at a flat rate of 10% is payable only on an amount exceeding Rs.1 lakh.
If the original date of investment is prior to 31st January 2018, then for the purpose of
calculating Long Term Capital Gain, value as on 31st January 2018 will be considered
as the original cost. For example, Mr. Sharma invested Rs. 5 lakhs in shares of XYZ Ltd.
in the year 2010. The value of same as on 31st January 2018 was Rs. 9 lakhs. He sold
these shares in April 2022 for Rs. 9,50,000 and thus earned a Long term capital gain of
Rs. 50,000. However, since the gain amount is less than Rs 1 lakh, Mr. Sharma doesn’t
have to pay any tax on the same.
Capital Gains on Bonds/Debentures/Debt mutual funds
When Debt Mutual Funds are redeemed, or bonds are sold in less than 3 years from
the date of investment, profit or gain is treated as short term capital gain, and same is
added in taxable income, and tax is payable on same as per the applicable slabs.
However, if Debt Mutual Funds are redeemed or bonds are sold at least three years
after the date of investment, profit/ gain is treated as Long Term Capital Gain, and tax is
payable on same at a flat rate of 20% after taking the indexation (inflation adjustment)
benefit as per chart shared below.
Capital Gain on Properties, Residential house, etc.
When properties like Residential house or land etc. is sold/transferred within 2 years
of acquiring/buying it, profit/gain is treated as short term capital gain, and the same is
added in taxable income, and tax is payable on same as per the applicable slabs.
However, if a house or land etc., is sold/transferred after 2 years of buying/acquiring it,
the profit/gain is treated as Long term Capital gain, and tax is payable on the same at
a flat rate of 20% after taking indexation benefit. Original cost is adjusted for inflation
as per the chart shared below. Tax can be saved by investing a maximum of 50 lakhs in
Capital Gain Tax bonds, as explained below in the example.
Section 54 EC
In order to save capital gain tax, the total amount of Long -Term Capital Gain (after
availing indexation benefit) has to be invested in any of the following three schemes
specified under section 54EC (upto Rs. 50 lakhs only):
1. Bonds issued by Rural Electrification Corporation Limited (REC)
2. Bonds Issued by Power Finance Corporation Limited (PFC)
3. Bonds Issued by Indian Railway Finance Corporation Limited (IRFC)
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NOTE:
The maximum Investment in capital gain tax saving bond can be Rs. 50 lakhs only (for
section 54EC benefits). Exemption is available to the extent of capital gain as invested
in long term specified assets.
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
LONG TERM CAPITAL GAIN
Cost Inflation Indexation
Financial Year
2001- 02
100
2002-03
105
2003-04
109
2004-05
113
2005-06
117
2006-07
122
2007-08
129
2008-09
137
2009-10
148
2010-11
167
2011-12
184
2012-13
200
2013-14
220
2014-15
240
2015-16
254
2016-17
264
2017-18
272
2018-19
280
2019-20
289
2020-21
301
2021-22
317
2022-23
331
Indexed cost of acquisition is computed with the help of following formula: -
Cost of Acquisition X (multipied by)Cost inflation index of the year of transfer/sale of
capital asset (Divided by)
Cost inflation index of the year of acquisition
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Example 1:
Mr. Kumar had invested Rs. 2,00,000 in a Bond Fund (debt-oriented Mutual fund
Scheme) in June, 2016. He redeemed his investment in September, 2022 and
received redemption proceeds of Rs.2,60,000. So, Capital Gain tax liability will be
computed as follows
Indexed cost =
Rs. 2,00,000 X 331 (CII of 22-23)
= Rs. 2,50,758/-
264 (CII of 16-17)
The long-term capital gain is (Rs. 2,60,000 - Rs. 2,50,758) = Rs. 9,242/- on which he is
required to pay capital gain tax of Rs. 1,849/- @ 20% plus cess.
Example 2:
Mr. Das bought a flat for Rs. 28,00,000 in August 2012. He sold this flat in September
2022 for a net consideration of Rs. 85,00,000. Income tax payable on capital gain of
Rs. 57,00,000 earned by him shall be as follows:
Adjustment of purchase price:
Purchase Price x (Cost inflation index in the year of sale/ cost inflation index in the year
of purchase) Rs. 28,00,000 x (331/200) = Rs. 46,34,000/Thus, Mr. Das has earned a Long-Term capital gain of Rs. 38,66,000/- (Rs. 85,00,000
- Rs. 46,34,000). Now, if he decides to pay tax, he has to pay 20% of Rs. 38,66,000/(i.e. Rs. 7,73,200/-) along with health & education cess. Alternatively, he can save this
tax liability by investing Rs. 38,66,000/- in either of the capital gain bonds as explained
while discussing section 54EC above.
Important points 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.
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Specified Investment Schemes u/s 80C , u/s 80CCC and 80CCD(1)
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
Life Insurance Premiums [including premiums paid for Term plans, ULIPs,
Traditional plans, Single premium plans provided Sum Assured ( Policy Amount ) is
atleast ten times of annual premium]
Employee’s Contributions to Employees Provident Fund/GPF.
Contribution to Public Provident Fund.
NSC (National Savings Certificates).
Repayment of Housing Loan (Principal).
Equity Linked Savings Scheme (ELSS) of Mutual Funds.
Tuition Fees including admission fees or college fees paid for the 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).
Interest accrued in respect of NSC VIII issue.
Pension scheme of LIC of India or any other insurance company.
Fixed Deposit with Banks having a lock-in period of 5 Years.
Amount deposited under Post Office Senior Citizens Scheme.
Amount deposited in Five Year Time Deposit Scheme in Post Office.
Deposit in Sukanya Samriddhi Account.
NOTES:
1.
2.
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.
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.
Please note that because the deduction is allowed from taxable income, the exact
savings 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. 46,800/- ( Tax plus health & 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
deduction allowed is 10% of salary (in case of taxpayer being an employee) or 10% of
gross total income (in case of tax payer being self employed) or Rs. 1,50,000 whichever
is less.
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.
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13
Tax Saving Guide: Your Guide to Tax Efficient Living
Additional deduction under section 80 CCD(1B)
Section 80CCD(1B) provides additional deduction for amount contributed to NPS of up
to Rs. 50,000.
Therefore, Total Deduction under Section 80C, 80CCC, 80CCD(1) and 80 CCD(1B)
cannot exceed Rs. 2,00,000.
Important Note
The employer’s contribution exceeding Rs. 7.5 Lakhs in a financial year to EPF plus
NPS plus any other superannuation fund will be taxed as a perquisite under the head
salaries.
DEDUCTION U/S80D (Health / Medical Insurance)
Under this section, maximum deduction of up to Rs. 1,00,000 can be claimed in
respect of premiums paid by any mode other than cash* towards health insurance
policy of various General Insurance companies like ManipalCigna, Niva Bupa, TATA AIG
etc. Such premium can be paid towards health insurance of spouse, parents as well as
dependent children as per following table:
Scenario
Individual and parents
below 60 years
Premium paid (Rs)
Self, family, children
Parents
Deduction under
80D (Rs)
25,000
25,000
50,000
Individual and family below 25,000
60 years but parents above
60 years
50,000
75,000
Both individual, family and
parents above 60 years
50,000
1,00,000
50,000
*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. 31,200/- (Tax plus health & education cess) by paying Rs.1,00,000/- as premium
for “Health Insurance” policy in a year.
Deduction under section 80G (Donations etc.)
Donations to approved institutions like Charitable Trusts etc. are eligible for deduction
under this section provided total donation amount is less than 10% of total taxable
income. Amount eligible as deduction is 50% of the donation amount.
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Tax Saving Guide: Your Guide to Tax Efficient Living
Deduction under section 80TTA (Interest on saving bank accounts)
This deduction is available to taxpayers below the age of 60 years.
It provides a maximum deduction up to Rs. 10,000/- or actual interest, whichever is
lower in respect of any income by way of interest on Saving Accounts with Banks/ Post
Office. It is not available on FD Interest.
Post office savings bank interest exemption under section 10 (15) (i)Post office savings bank interest is exempt up to Rs.3,500 (in an individual account)
and Rs. 7,000 ( in a joint account) U/s 10(15)(i).
Section 80TTB: Rs.50000 deduction on interest income to senior citizens
All senior citizen taxpayers (above the age of 60 years as on 31-03-2022) are eligible for
a maximum deduction of Rs. 50,000 for interest income from following sources.
1. Interest on bank deposits (Savings a/c as well as FD).
2. Interest on deposits held with co-operative banks.
3. Interest on post office deposits including Time Deposit & SCSS.
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 conditions
to be fulfilled.
An Example of Prudent Tax Planning
Mr. Prashant, 30, a senior-manager in a MNC earns an annual salary income of
Rs. 18,50,000/-. He has old investments of Rs. 2.50 lakhs in 8% GOI Bonds and
Rs. 2 lakhs in 6.5% Tax-Free Bonds. His contribution to PF has been Rs. 42,000/-.
He also has earned Rs. 15,000/- from interest on his Savings Bank Account. He visits
his Relationship Manager at Bajaj Capital Centre for tax saving. His Relationship
Manager at Bajaj Capital Centre facilitated the following:
1. Contribution to a ULIP Plan (IPRu Life) for Retirement with a premium of Rs. 50,000/every year.
2. Contribution to Term Plan (HDFC Life) for protection of his family members, policy
amount Rs. 1.5 crores and premium amount Rs. 20,000 p.a.
3. SIP Contribution into Axis Long Term Equity Fund (ELSS Fund) worth Rs. 5,000/
monthly.
4. Contribution into ManipalCigna (Health Insurance) worth Rs. 25,000/-.p.a.
5. Contribution into National Pension system (NPS) Rs. 50,000/-.
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15
Tax Saving Guide: Your Guide to Tax Efficient Living
Total
Income
Particulars
Salary
Tax Free
Income
Taxable
Income
18,50,000
-
18,50,000
20,000
-
20,000
15,000
Income from other sources (Interest on Taxable GOI Bonds)
Interest Income from Savings Bank Account
15,000
-
Interest on Tax free bonds
13,000
13,000
-
Total taxable income
18,85,000
Deductions 1. Standard Deduction (Sec 16A)
50,000
2. Deductions u/s 80 C
Ulip Plan (I Pru Life)
50,000
-
-
Term Plan (HDFC Life)
20,000
-
-
Contribution to PF
42,000
-
-
M F Investment into Axis Long Term Equity Fund (ELSS Fund)
60,000
-
-
Total
1,72,000
Restricted to (Sec 80C) 1,50,000
-
50,000
50,000
-
25,000
25,000
-
15,000
10,000
-
TOTAL DEDUCTIONS
2,85,000
3. Deduction under Sec 80CCD
Contribution to NPS 80 CCD (1B)
4. Deduction under Sec 80D
Health Insurance premium ManipalCigna
5. Deduction u/s 80TTA
Interest Income from saving bank Account
Restricted to Rs. 10,000
Net Taxable Income
16,00,000
Income Tax Liability:
0 to 2,50,000
0
2,50,000 to 5,00,000 @ 5%
12,500
5,00,000 to 10,00,000 @ 20%
1,00,000
10,00,000 to 16,00,000 @ 30%
1,80,000
Total Income Tax
2,92,500
Health & Education Cess @ 4%
11,700
Total Income Tax payable by Mr. Prashant
3,04,200
Total taxable income of Mr. Prashant as per above example is Rs. 18,85,000. With
expert tax planning advise recieved from his Relationship Manager in Bajaj Capital, he
is able to reduce his tax liability to Rs. 3,04,200 only which is merely 16% of his total
income, whereas he is in 30% tax bracket.
16
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Tax Saving Guide: Your Guide to Tax Efficient Living
Mr.Prashant decides to check whether shifting to New tax system (as announced in
2020 budget) will be beneficial for him. His tax liability under the New system will be
computed as follows:
Total income from all heads (other than interest on tax-free bonds) - Rs. 18,85,000
Under New tax system, he will not get any deductions such as Standard Deduction,
Deduction u/s 80 C, 80 D, 80 CCD, 80 TTA, etc.
His tax liability under the New tax system will be Rs. 3,15,120 including cess (please
refer table on page no. 5 above). Thus, sticking to Old tax system will be beneficial for
Prashant as not only he is able to reduce his tax liability, but he is also able to protect his
family and his own health/retirement through various tax-saving schemes suggested
by his Bajaj Capital Relationship Manager.
Example of Prudent Investment cum Tax Planning for a ‘Just retired’ person.
Mr. Ramesh Kumar retired at the age of 60 years from a Govt. job on 1st April, 2022. He
received total retirement benefits amounting to Rs. 1.8 crore, including Provident Fund,
Gratuity, Leave encashment etc. Mr. Kumar is entitled to a life long monthly pension of
Rs. 50,000/-. Also he has a PPF Account where the accumulated balance is
Rs. 18 lakhs. Besides, 7 years ago he bought a mediclaim plan covering himself, his
wife and he is regularly paying health insurance premium of Rs. 35,000/- per annum,
to Niva Bupa Health Insurance company Ltd.
Just after retirement, Mr. Kumar consults his Relationship Manager at Bajaj Capital and
decides to invest his retirement benefits of Rs.1.80 crores as per details given below:
Name of the Schemes
a) Senior Citizens Savings Scheme (SCSS) @ 7.4% p.a. (payable quarterly)
b) Pradhan Mantri Vaya Vandan Yojna (PMVVY) @ 7.4% p.a. (payable monthly)
c) Investment in 4 diffirent Banking & PSU Debt funds (Growth option) @ Rs. 25 lakhs each
Amount
15,00,000
15,00,000
1,00,00,000
d) Contribution to PPF Account
1,50,000
e) Floating Rate Savings Bonds @ 7.15% (payable half yearly)
22,00,000
f)
Premium of Mediclaim
g) Investment in 4 diffirent Dynamic Asset Allocation Funds( Growth option) @ Rs. 5 laks each
h) Contribution to NPS (auto investment option)
i)
Balance left in Saving Bank a/c with his bank for day - to - day needs and Emergency purpose
TOTAL 35,000
20,00,000
1,00,000
5,15,000
1,80,00,000
Tax liability of Mr. Ramesh Kumar for Financial Year April 2022 to 31st March 2023 will
be computed as under:-
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Tax Saving Guide: Your Guide to Tax Efficient Living
.
Total
Income
Tax Free
Income
Taxable
Income
6,00,000
1,11,000
1,11,000
1,57,300
-
6.00,000
1,11,000
1,11,000
1,57,300
6,00,000
(tax is computed
6,00,000
-
Particulars
a)
b)
c)
d)
Pension ( 50000 x 12 )
Interest income on SCSS (@7.4% on 15 lakhs)
Intrest Income on PMVVY (@ 7.4% on 15 lakhs)
Interest income at Floating rate saving bonds
(@ 7.15% on 22 lakhs)
e) Returns on Banking & PSU Debt Funds
(in Growth option) (Assuming annual return
to be 6% per annum)
and payable
only in the year
of withdrawl)
f) Intrest on PPF Account (@ 7.1% on 19,50,000)
1,38,450
1,38,450
-
g) Returns on Dynamic Asset Allocation Funds (Growth
option) (Assuming annual return to be 8.4% p.a.)
1,68,000
1,68,000
-
-
20,600
9,06,450
9,99,900
(tax is computed
and payable
only in the year
of withdrawl)
h) Balance left in Saving Bank a/c with his bank for
20,600
day to day needs and Emergency purpose @ 4% p.a.
on 5,15,000
Total
19,06,350
Computation of Taxable Income
Amount (Rs.)
Amount (Rs.)
Total taxable Income
9,99,900
Less: Standard Deduction u/s 16A (from Pension income)
Deduction u/s 80 C (for contribution to PPF)
50,000
1,50,000
Deduction u/s 80 CCD (for contribution to NPS)
50,000
Deduction u/s 80D (Mediclaim premium)
35,000
Deduction u/s 80TTB ( SCSS + Saving bank Interest)
50,000
Total Deductions from taxable income
3,35,000
Net Taxable Income 6,64,900
Income Tax Liability Computation
0 to 3,00,000
0
3,00,000 to 5,00,000 @ 5%
10,000
5,00,000 to 6,64,900 @ 20%
32,980
Total Income Tax
42,980
Health & Education Cess @ 4%
1719
Total Income Tax payable by Mr. Ramesh
44,699
Thus, Mr. Ramesh Kumar has to pay total tax of Rs. 44,699 only on his Total Income of
Rs. 19,06,350/- with the help of efficient tax saving executed by the Relationship Manager
at Bajaj Capital.
18
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Tax Saving Guide: Your Guide to Tax Efficient Living
Important Note:
1.
2.
3.
4.
Out of the total retirement benefits of Rs. 1.80 crores, Rs. 52 lakhs have been
invested in fixed income interest bearing safe investment schemes such as SCSS,
PMVVY, and FRSB to ensure regular flow of assured income.
An amount of Rs. 20 lakhs has been invested in Dynamic Asset Allocation Funds to
ensure proper Assets Allocation.
An amount of Rs. 1 crore has been invested in 4 different schemes of Banking & PSU
Debt Funds to ensure safety and inflation beating returns with an option to withdraw
Pension type of monthly amount through SWP (Systematic Withdrwal Plan). SWP is
a superior option as compared to Bank FD as it attracts lower tax and that too in the
year of withdrawl only. Please note that in case of Bank FD you have to pay tax every
year on interest income on accrued basis.
Interest rate on Senior Citizen Savings Scheme (SCSS) has now been increased to
7.60% p.a. w.e.f. 1st October, 2022.
Disclaimer: Bajaj Capital Limited (BCL) has taken due care and caution in compilation
and presenting factually correct data contained herein-above. 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. Readers 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 liability 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.
Instructions for filling out FORM ITR-1
This Return Form is to be used by an individual whose total income for the assessment
year 2023-24 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)
(d) Having total Income upto Rs.50 lakhs.
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 2023-24 includes:A Bajaj Capital Publication | www.bajajcapital.com
19
Tax Saving Guide: Your Guide to Tax Efficient Living
(a)
(b)
(c)
(d)
Income from Salary/Pension; or
Income from House Property; or
Income from Capital Gains; or
Income from Other Sources (including Winning from Lottery and Income from Race
Horses).
(e) For Individual and HUF, not having income from Profit and gains of business and
profession.
Instructions for filling out FORM ITR-3
This Return Form is to be used by an individual or an Hindu Undivided Family having income
chargeable to income-tax under the head “Profits or gains of business or profession”.
Instructions for filling out FORM ITR-4
This Return Form is to be used by an individual or a Hindu Undivided Family who is carrying
out a proprietary business or profession.
20
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Bajaj
Capital
India
Tax Saving
Guide:
YourAll
Guide
toNetwork
Tax Efficient Living
Head Office:
Bajaj House, 97, Nehru Place,
New Delhi - 110019
Phone No. (011) 41693000
Corporate Office:
Novus Tower, 1st Floor (East Wing)
Plot No. 18, Sector 18,
Gurugram-122015, Haryana
NORTH REGION
DELHI
CENTRAL DELHI
Connaught Place: United India Life
Building, F19-Block, Connaught Place,
New Delhi–110001,
Phone No. 011-41790444.
Rajendra Place: 9, Ground Floor, Rajendra
Bhawan, Rajendra Place (Opp. Rachna
Cinema), New Delhi-110008, Phone No.
011-25734989, 41538597.
NORTH DELHI
Ashok Vihar: Shop No. 15, Ground Floor,
Deep Cinema Complex, Ashok Vihar,
Phase-I, Delhi-110052,
Phone No. 011-27461651.
Pitampura: Unit No. 124, D-Mall, Netaji
Subhash Place, Pitampura, Delhi-110034,
M: No. 8588944430, 8588944438.
EAST DELHI
Karkardooma: G-14, Sachdeva Tower, Plot
No. 17, Community Center, Near HDFC
Bank, Karkardooma, New Delhi-110092,
Phone No. 011-42420905, 40586975,
40618995.
Patparganj: DDA Shop No. 24, Ground
Floor, Rama Krishna Market, No. 1, I.P.
Extension, Patparganj, Delhi-110092, M:
8800040268.
WEST DELHI
Dwarka: F-4, Hl Square, Above ICICI
Bank, Plot No. 6, Sector-5, Dwarka, New
Delhi–110075,
Phone No. 011-42730057, 42730058, M: No.
9711090044.
Janakpuri: Shop No. 11 & 12, 7-A, DDA
Building, Janakpuri Dist. Centre, New
Delhi-110058,
M: No. 9891050909.
Kirti Nagar: Shop No. 3, Ground Floor,
B-5, Tagore Market, Kirti Nagar, New
Delhi-110015, Phone No. 011-45072026.
Paschim Vihar: G-8 & 9, Ground Floor,
Bhanot Tower, A-Block Opp. Jwala Heri
Market, Paschim Vihar, New Delhi-110063,
Phone No. 011-45524016.
SOUTH DELHI
Bhikaji Cama Place: 10, 11, 12, Ground
Floor, Ansal Chamber-1, Bhikaji Cama
Place, New Delhi-110066, Phone No. 01126188644.
Defence Colony: B-87, Ist Floor, Defence
Colony, New Delhi- 110024, Phone No. 01141553182, 24338180.
Kalkaji: N-10, Kalkaji, New Delhi-110019,
Phone No. 011-26223507, 26443761.
Nehru Place: 97, Bajaj House, Ground
Floor, Nehru Place, New Delhi-110019,
Phone No. 011-41693000.
Malviya Nagar: C-34, Malviya Nagar Near
SBI Bank, New Delhi-110017, Phone No.
011-40526033, 40455629.
Vasant Kunj: 15, LGF Central Market,
Masoodpur, Vasant Kunj, New
Delhi-110070, Phone No. 011-26897632,
26136319.
Yusuf Sarai: 19, DDA Market, Commercial
Complex, Yusuf Sarai, New Delhi-110016,
M: No. 9873140258.
NATIONAL CAPITAL REGION
Faridabad: 5R/1 Ground Floor, B.K. Chowk,
Near HDFC Bank, NIT Faridabad-121001,
Phone No. 0129-4035241, 6466564, M:
8800040274.
Ghaziabad: G-5 & 6, Ansals Satyam
Building, Raj Nagar, District Centre,
Ghaziabad-201002, U.P.
Phone No: 0120-2322407, 4336207.
Gurugram: Shop No. 114, 115, AKD Tower,
Sector - 14, Gurugram-122001, Phone No.
0124-4062590.
Noida Sector 29: A-2, Brahmputra
Commercial Complex, Near Rail
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21
Bajaj CapitalTax
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Saving Guide: Your Guide to Tax Efficient Living
Reservation Centre, Sector 29,
Noida-201301, Phone No. 0120-2451496,
2450100.
Noida Sector 41: C-20, C Block Market,
Sector 41, Noida-201301, Phone No. 01204340111, M: No. 8800040270.
Noida Sector 51: B-1A/10, 1st Floor,
Commercial Market, B-Block, Sector 51,
Noida-201301, Phone No: 0120-4936900.
Sonipat: Opp. Old Civil Hospital, Railway
Road, Sonipat-131001, Phone No. 01306451297, 6451256, 2240623.
Vaishali: Plot No. 2, Rameshwar Towers,
Sector-4, Vaishali, Ghaziabad 201012, U.P.
Phone No: 0120-4349460,61, 6494072.
EAST REGION
Regional office: Unit No. 705, 7th Floor,
PS Srijan Corporate Park, Tower - 2, Block
EP-GP, Salt Lake, Sector V, Kolkata 700091. Phone No: 033-40034196
KOLKATA
Ezra Street: Sreeram Chambers, 4th floor,
3/1 R.N. Mukherjee Road, Kolkata-700001.
Phone No. 033-40052060, Mr. Saikat
Ghosh, M: 9830954744, Email: saikatg@
bajajcapital.com
Lord Sinha Road: 507, Lords Building,
5th Floor, 7/1, Lord Sinha Road,
Kolkata-700071,
Phone No. 033-40611455, 40722012,
40404749, Ms. Navaneeta Gadi, M:
9433069834,
Email: navaneetag@bajajcapital.com
North Kolkata: 3rd Floor, Room No. 304,
51, Vivekananda Road, Kolkata-700007,
Phone No. 033-40052635, 6292212222, Mr.
Rajib Mondal, M: 9883364819,
Email: rajibm@bajajcapital.com
Salt Lake: BF 192, Sector 1, Salt Lake,
Kolkata-700064. Phone No. 03340611466, 40611467, 40611468, Mrs. Arpita
Nag, M: 9874047475, Email: arpitan@
bajajcapital.com
Salt Lake Sector V: Unit Number 705, 7th
Floor, PS Srijan Corporate Park, Tower - 2,
Block EP-GP, Salt Lake, Sector V,
22
Kolkata-700091. M: 6292113319
Mr. Biswapriya Mukhopadhyay, M:
9932245644, Email: biswapriyam@
bajajcapital.com
South Kolkata: 1st Floor, 4, Jatin Bagchi
Road, Kolkata-700029. Phone No.
033-40721198, 40721197, Mr. Avradeep
Mukherjee, M: 9836064260, Email:
avradeepm@bajajcapital.com
JHARKHAND
Dhanbad: Room No. 103/A, 1st Floor,
Ozone Plaza, Bank More, Dhanbad Jharkhand 826001.
Phone No. 9204799896, Mr. Goldi Saluja
(M: 7631044884), Email: goldys@
bajajcapital.com
WEST BENGAL
Siliguri: 3rd Floor, Jatin Das Sarani
(Near Jewel Club), Ashram Para, Siliguri,
Darjeeling-734001,
Phone No. 0353-2643545, Mr. Amit
Somani (M: 9851131202), Email:
amitsomani@bajajcapital.com
BIHAR
Begusarai: Hotel Blue Diamond, Near
Alka Cinema, Opp BRT Township,
Begusarai-851117
M: 8757324466, Mr. Rajesh Kumar M:
9931630362, Email: kumarrajesh@
bajajcapital.com
Patna: 108, Ashiana Plaza, First Floor,
Budh Marg, Patna-800001. Phone No.
756490268,
Mr. Manoj Kumar (M: 9811754911), Email:
manojkr@bajajcapital.com
ORISSA
Bhubaneswar: Plot No-1/A, Ground
Floor, Station Square, Kharvel Nagar,
Bhubaneswar-751001
Phone No. 6747960859, Mr. Sambit
Kumar Mohanty M: 8984031886,
Email: sambitkm@bajajcapital.com
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Bajaj Living
Capital Network
Tax Saving Guide: Your Guide to Tax Efficient
ASSAM
Guwahati: 1st Floor, Rohini Apartments
Chandmari, G.N.B. Road Guwahati-781003
Phone No. 8811017100, 8811034661,
8811023771, Mr. Diganta Deka Bhagawati
SOUTH REGION
Regional Office: 3rd Floor, 65 A, GST
Road, (S-7/1, Industrial Estate), Guindy,
Chennai – 600032, Phone No. 04423451234.
CHENNAI
Adyar: K.R. BUILDINGS, 12, L.B. Road,
Adyar, Chennai- 600020, Phone No. 04423451232, 23451233, 23451235.
Anna Nagar: W-111, First Floor, 3rd Avenue,
Anna Nagar, Chennai - 600 040, Phone
No. 044-23451243, 23451244.
Anna Salai: Ground Floor, No. 19,
Wellington Plaza, 90, Anna Salai,
Chennai-600 002, Phone No. 04423451207, 23457307.
Guindy Branches 1-3: 3rd Floor, 65 A, GST
Road, (S-7/1, Industrial Estate), Guindy,
Chennai–600032, Phone No. 04422504939.
Mylapore: Ground Floor, No. 185/2, New
No. 246 Royapettah High Road (OPP :
Naihaa Showroom) Mylapore, Chennai
- 600 004. Phone No. 044-23451241,
23451242.
Nanganallur: Shop No. 4, Plot No. 3, 29th
Street, Nanganallur, Chennai-600061,
Phone No. 044-22247046, 22247047.
Nungambakkam: No.29/15, Josier Street,
Nungambakkam Chennai 600 034,
Phone No. 044-40035300.
T. Nagar: Bridge Port, New No. 29, Old No.
12, Burkit Road, T.Nagar, Chennai-600017,
Phone No. 044-23451230, 23451231.
Velachery: Shop No.5, Ground Floor, Vikas
Plaza, 37/C, Velachery, Tambaram Road,
Chennai-600042,
Phone No. 044-22434994, 22430129.
TAMIL NADU
Coimbatore: Race Course: 1st Floor, No.
20, Huzur Road, Behind Hotel Taj Vivanta,
Coimbatore - 641018, Phone No. 04222309950.
Coimbatore: R.S Puram: No. 575,
D.B. Road, First Floor, R.S. Puram,
Coimbatore-641 002,
Phone No. 0422-2540257 / 2555565 /
2555566.
Karur: Chella Chambers 1st Floor, #74,
Covai Road, Karur - 639002, Phone No.
04324-241415 / 241416
Madurai: Suriya Towers, No.5, First Floor,
272/273, Good Shed Street, Madurai - 625
001. Phone No. 0452-2345863, 2345884.
Salem: No.22, “Swarnambigai Plaza”
Omalur Main Road, Salem-636 009,
Phone No. 0427-2440700, 2441180.
Tirunelveli: Shop No. 1, First Floor,
K.S. Arcade, Near Byepass Roundana,
Vannarapettai, Tirunelveli - 627003, Phone
No. 0462-2500432, 33.
Trichy: L R Arcade, D7, 1st Floor, 1st
Cross, North East Extn., Thillai nagar,
Trichy-620018, Phone No. 0431-2763744,
844.
KERALA
Cochin: F-2, 1st Floor, N.J.K Thripthy
Building, Opp. to Medical Trust Hospital,
S.A. Road, Valanjambalam, Cochin - 682
016, Phone No. 0484-2370056, 59.
Palakkad: ‘Wisakham’ 1st Floor, Near
Chinmaya Mission Guruvayurappan
Temple, Vinayaka Colony,
Palakkad-678 001, Phone no: 04912545355, 2545579.
Trivandrum: Haji M Bava Commercial
Complex, Ground Floor, Near Old GPO,
Ambujavilasam Road, Trivandrum –
695001, Phone No. 0471-2475112/2475251.
KARNATAKA
ZONAL OFFICE
Municipal No. 6/4, Union Street, 2nd
Floor, Opp. HDFC Bank, Infantry Road,
Bengaluru-560001, Phone No. 08025594999, 25559273, 74.
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BENGALURU
Indira Nagar: No. 803, 9A Main Road, Ist
Stage, Indira Nagar Bengaluru-560038,
Phone No. 080-25202657 / 658 / 656 / 659
Infantry Road: Municipal No.6/4,Union
Street, 1st Floor, Opp.HDFC Bank, Infantry
Road, Bengaluru-560001. Phone No. 08025594999
Jaya Nagar: No. 4, Lakshmi Mansion, 81/B,
8th Main Road, Opp. Kotak Mahindra
Bank, 3rd Block, Jaya Nagar, Bengaluru
-560011, Phone No. 080-22449643/
22459388/ 26530302
Koramangala: No. 487, 1st, Floor,
KHB Colony, 5th Block, Koramangala,
Bengaluru-560067, Land Mark: Opp.
Krishna Temple, Phone No. 08025635596/080-25635597
Malleshwaram: No. 32, Old No. 292/7, 15th
Cross Road, Margosa Road, Malleswaram,
Bengaluru – 560003. Phone No. 080 23564156/57
Marathahalli: 18, Krishna Sumit Building,
Unit No. 108, 1st Floor, Outer Ring Road,
Marathahalli, Bengaluru-560037. (Next to
Canara Bank) Phone No. 080-41483698
Rajaji Nagar: 293/1/1, 17th Main
Road “D”, IIIrd Block, Rajaji Nagar,
Bengaluru-560010, Phone No. 08023387896 / 23357360 / 23507433
MANGALURU
Mangaluru: Essel Towers, Shop No. BS4,
Bunts Hostel Circle, Mangaluru-575003,
Phone No. 0824 - 4251787.
TELANGANA
Gachibowli: Plot No 22, Ayyappa
Arcade, 2nd Floor, Janardhana Hills,
Gachibowli, Lane beside South India
Shopping Mall & Above Karnataka Bank,
Hyderabad–500031, Phone No. 04048252222
Secunderabad: Legend Crystal, Shop
No. 4, First Floor, No: 1-7-79/A and B,
Mandalay Lane, Prendergast Road,
Secunderabad-500003, Phone No. 04044555555
24
ANDHRA PRADESH
Vijayawada: 1st Floor, Siri Square, 405-1, Tikkle Road, Opp. Hotel D V Manor,
Vijayawada - 520010,
Phone No. 0866-2492245 / 35
Visakhapatnam: No. 47-9-20, Somunaidu
Enclave, 3rd Lane, Near Harsha Labs,
Dwarakanagar, Visakhapatnam-530 016,
Phone No. 0891- 2506292, 2505957
WEST REGION
Regional Office: Unit No. 941, Bldg No.
9, 4th Floor, Solitaire Corporate Park,
Andheri Kurla Road, Chakala, Andheri
(E), Mumbai - 400093, Phone No. 02240099999, 9136690609, Fax No. 40099911.
MUMBAI
Andheri: A-28, Laram Shopping Centre,
S.V. Road, Andheri (W), Mumbai,
Maharashtra-400058
M: 9136690579, 9136690580, 9136690581.
Borivali: A-105, First Floor, Neelkanth
CHS, Opposite Pushp Vinod 3, Near
Kora Kendra, SVP Road, Borivali (West),
Mumbai. 400092. M: 9136690582, 83, 84,
85.
Chembur: Unit No. 205, Business Point
Building Opp Sai Baba Temple Near
Chembur Monorail Station,
Chembur (East), Mumbai 400071, M:
9136690587, 9136690588.
Dadar: Rishiraj House Condominium,
Plot No. 331, Opp.Ram Mandir,
Bhawani Shankar Road, Dadar (West),
Mumbai-400 028. M: 9136690589,
9136690601, 9136690602, 9136690603,
9136690604.
Fort: Office No. 2, Ground Floor, Karim
Chambers, Ambalal Doshi Marg (Hamam
Street), Fort, Mumbai - 400001, Phone No.
022-62427400, M: 9769096431.
Ghatkopar: 205, 2nd Floor, Atlantic
Commercial Complex, Above Vodafone
Gallery, R.B. Mehta Marg, Ghatkopar
(East), Mumbai – 400077. M: 9136690593,
9136690594
Kharghar: No. 19, 1st Floor, Crystal
Plaza, Hiranandani Complex, Sector 7,
Kharghar-410210
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M: 9136690595, 9136690596, 9136690597
Sion: Shop No. 7A, Shiv Mahal, Plot No.
206, Near Union Bank of India, Sion (East),
Mumbai - 400022
M: 9136690598, 9136690599, 9136690600
Thane: 204, Cosmos Avenue Premises,
Opp. Thane Railway Station, Station Road,
Thane (W) 400 602
M: 9136690605, 9136690607
MAHARASHTRA
Nagpur: Shop No. B-S1, Amarjyoti Palace,
Wardha Road, Dhantoli Near Lokmat
Square, Nagpur - 440012. M: 8983050155,
7276018576
Nashik: Shop No. 4, First Floor, Gulmohar
Arcade, Sharanpur Road, Opp Kulkarni
Garden, Nashik 422002, Phone No. Rohan
(Branch Manager) 9860576699, Branch M:
9136944100
Pune Bhandarkar Road: Suyash Plaza,
Office No. 08, 3rd Floor, Opp Yes Bank,
Bhandarkar Road, Near Kamala Nehru
Park, Pune-411004. Phone No. 02065009463, 67
Pune Subhash Nagar: Shop No.24 & 25,
Sanas Plaza, 1302 Subhash Nagar, Bazirao
Road, Pune - 411002. M: 9152010987, 88, 89
GUJARAT
Ahmedabad: 307, 3rd Floor, SPG
Empressa Complex, Near Passport
Office, Mithakhali Six Road, Law Garden,
Ahmedabad-380006
Rajkot: 302, 3rd Floor, Pacific Fortune,
5 Panchnath Plot, Near Jain Temple,
Rajkot-360 001.
M: 9152727346, 9152032983, 9662435050
Vadodara: 106-107, 1st Floor, Siddharth
Complex, R.C. Dutt Road, Alkapuri,
Vadodara–390005.
M: 8460050183, 184, 185, 189.
WEALTH MANAGEMENT CENTRES
MUMBAI
Unit No. 941, 4th Floor, Building No.
9, Solitaire Corporate Park, AndheriKurla Road, Chakala, Andheri (East),
Mumbai-400093. Phone No. 022-
40099999. Mr. Vishal Lakhani, M:
9773515883, Email: vishall@bajajcapital.
com, Mr. Surajit Banerjee, M: 9836657657,
surajitb@bajajcapital.com
KOLKATA
Unit No. 2B, Navjeevan building, 54/1A,
Hazra Road, Kolkata–700019
Phone No. 033-40512626
Mr. B.J. Mozumdar, M: 9830872471, Email:
boiduryam@bajajcapital.com,
Mr. Saubhanik Datta, M: 9830066385,
saubhanikd@bajajcapital.com,
Mr. Sanjoy Banerjee, M: 9836558885,
sanjoyb@bajajcapital.com
BENGALURU
869, 1st floor, 80 Feet Road, 8th Cross, 8th
Block, Koramangala, Bengaluru – 560095
Phone No. 080-25707633, 634
Mr. Sidharth Prasad, M: 7760976465,
Email: sidharthp@bajajcapital.com,
Mr. Nirupam Maity, M: 8880042800,
E-mail: nirupamm@bajajcapital.com
Mr. Praphulla Kumar, M: 7795655251,
prapullak@bajajcapital.com
CHENNAI
Unit No. 15/33,1st Floor, Eldams road,
Alwarpet, Chennai - 600 018
Mr. G.D. Sivakumar, Phone No. 04423457801, 02-06. M: 9840961744,
Email: gdsivakumar@bajajcapital.com
HYDEREABAD
Unit No. 3-6-522, 4th floor, Opp. Woodland
Showroom, Main Road, Himayathnagar,
Hyderabad-500029, Mr. K. Bal Reddy, M:
9989055601, Phone No. 040-66347477
Email: kbalreddy@bajajcapital.com
DELHI & NCR
GURUGRAM - DLF PHASE IV
B-201, Super Mart 1, DLF Phase IV,
Gurugram-122002,
Phone No. 0124-4252961, Mr Anshul
Saxena, M: 9811019846, Email: anshulsa@
bajajcapital.com
GURUGRAM - NOVUS TOWER
Plot No. 18, Novus Tower, 1st Floor,
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Bajaj CapitalTax
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Saving Guide: Your Guide to Tax Efficient Living
(East Wing), Sector 18, Gurugram
122015, Haryana, Mr. Manu Somani, M:
8860360692, Email: smanu@bajajcapital.
com
NEHRU PLACE
5th Floor, 97, Bajaj House, Nehru Place,
New Delhi 110019
Phone No. 011-4169 3000, 6700 0000.
Mr. Dhirender Singh Rawat, M:
9873676724 Email: dhirendersr@
bajajcapital.com & Mr. Rishi Kapoor M:
9811916266, rishik@bajajcapital.com
NOIDA
K-66, Ground Floor, Ansal Fortune Arcade,
K Block Road, Sector 18, Noida 201301,
Uttar Pradesh, Mr. Amit Kumar Gupta, M:
7838556984, Email: amitkg@bajajcapital.
com
PUNJABI BAGH
1/51, West Punjabi Bagh, Main Central
Market (Opp. Citibank), New Delhi -110026,
Phone No. 011-47020045/47020091. Mr.
Amrendra Kumar Bipin, M: 9953000459,
Email: amrendrakb@bajajcapital.com
VASANT KUNJ
Shop No 1, First Floor, B-7, Local Shopping
Complex, Vasant Arcade, Opp Police
Station, Nelson Mandela Marg, Vasant
Kunj, New Delhi–110070, Phone No. 01146560414, 15
Mr. Abhishek Kumar. M: 9999600156,
Email: abhishekkum@bajajcapital.com
PUNJAB
Chandigarh: SCO 341-342, First Floor,
Sector 35B, Chandigarh 160022,
Phone No. 0172-4653341, 5089190
Ludhiana: Ground Floor, SCO-137, Feroze
Gandhi Market, Ludhiana-141001
Phone No. 0161-4612287, 2412287
UTTAR PRADESH
Agra: Shop No. 110, Ground Floor, Block
No. 27/2/4, Sanjay Palace, Near Hotel
Panchrattan, Agra-282002. Phone No.
0562-4000953, 2521448
Prayagraj: 128/24/1D, Mahatma Gandhi
Marg, Civil Lines, Prayagraj -211001, near
Max Mall Building.
Phone No: 0532-2400243
M: 7080278600
Kanpur: 106, Ratan Esquire, 14/144,
Chunni Ganj, Kanpur-208001 Phone No.
9935366295
Lucknow: 11, Ground Floor, M.G. Marg,
Commerce House, Habibulla Compound,
Hazratganj, Lucknow-226001, Phone No.
0522-4039507
Meerut: FF-121 Ganga Plaza, Near SBI,
Meerut 250001, Phone No. 0121-4051709,
M: 9358407723
Varanasi: Shop No. 36/49, Ist floor,
Kuber Complex, Rath Yatra Crossing,
Varanasi-221010
M: 9795652233, 9454768159
RAJASTHAN
Ajmer: Shop No. 12, Ground Floor, Ajmer
Tower, Kutchery Road, Ajmer, Rajasthan
305001
M: 9828052240
Jaipur: G-3, Anukampa Tower, Opp.
Sangam Tower, Church Road (M.I. Road)
Jaipur-302001
Phone No. 0141-4026640, 2374332
UTTARAKHAND
Dehradun: Aarna Tower, 2nd Floor, 1,
Mahant Laxman Dass Road, Astley Hall,
Rajpur Road, Dehradun-248001
Phone No. 0135-2719377, M: 8439534917,
9756262139
MADHYA PRADESH
Bhopal: Shop No. 6 & 7, First Floor, Jyoti
Cinema Complex, M.P. Nagar, Zone 1,
Bhopal-462011
Phone No. 9826090517, 7554229297
26
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