(25th EDITION - FY 2022-23)

SUPER TAX SAVERS’ MOST PREFERRED GUIDE

ALL YOU NEED TO KNOW ABOUT TAX

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INDIA’S MOST TRUSTED TAX SAVING SCHEME GUIDE

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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!!

2 DISCLAIMER;
A Bajaj Capital THIS| GUIDE
Publication 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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 Tax Saving Guide: Your Guide to Tax Efficient Living

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

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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. 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

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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. 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
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. Annual Rental Income.

b. From this deduct - Property Tax/Municipal tax if any paid by the owner.
c. From balance amount – deduct 30% towards repairs & maintenance.
d. 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

Rs. 2,00,000 X 331 (CII of 22-23)

Indexed cost = = 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. 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]
2. Employee’s Contributions to Employees Provident Fund/GPF.
3. Contribution to Public Provident Fund.
4. NSC (National Savings Certificates).
5. Repayment of Housing Loan (Principal).
6. Equity Linked Savings Scheme (ELSS) of Mutual Funds.
7. 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).
8. Interest accrued in respect of NSC VIII issue.
9. Pension scheme of LIC of India or any other insurance company.
10. Fixed Deposit with Banks having a lock-in period of 5 Years.
11. Amount deposited under Post Office Senior Citizens Scheme.
12. Amount deposited in Five Year Time Deposit Scheme in Post Office.
13. 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.

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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 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:

Premium paid (Rs) Deduction under

Scenario Parents
Self, family, children 80D (Rs)

Individual and parents 25,000 25,000 50,000

below 60 years
Individual and family below 25,000 50,000 75,000
60 years but parents above
60 years
Both individual, family and 50,000 50,000 1,00,000
parents above 60 years

*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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 Tax Saving Guide: Your Guide to Tax Efficient Living

Total Tax Free Taxable

Particulars Income Income Income
Salary 18,50,000 - 18,50,000
Income from other sources (Interest on Taxable GOI Bonds) 20,000 - 20,000
Interest Income from Savings Bank Account 15,000 - 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 -
3. Deduction under Sec 80CCD
Contribution to NPS 80 CCD (1B) 50,000 50,000 -
4. Deduction under Sec 80D
Health Insurance premium ManipalCigna 25,000 25,000 -
5. Deduction u/s 80TTA
Interest Income from saving bank Account 15,000 10,000 -
Restricted to Rs. 10,000
TOTAL DEDUCTIONS 2,85,000
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.

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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 Amount

a) Senior Citizens Savings Scheme (SCSS) @ 7.4% p.a. (payable quarterly) 15,00,000
b) Pradhan Mantri Vaya Vandan Yojna (PMVVY) @ 7.4% p.a. (payable monthly) 15,00,000
c) Investment in 4 diffirent Banking & PSU Debt funds (Growth option) @ Rs. 25 lakhs each 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 35,000
g) Investment in 4 diffirent Dynamic Asset Allocation Funds( Growth option) @ Rs. 5 laks each 20,00,000
h) Contribution to NPS (auto investment option) 1,00,000
i) Balance left in Saving Bank a/c with his bank for day - to - day needs and Emergency purpose 5,15,000
TOTAL 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 Tax Free Taxable

Particulars Income Income Income

a) Pension ( 50000 x 12 ) 6,00,000 - 6.00,000

b) Interest income on SCSS (@7.4% on 15 lakhs) 1,11,000 - 1,11,000
c) Intrest Income on PMVVY (@ 7.4% on 15 lakhs) 1,11,000 - 1,11,000
d) Interest income at Floating rate saving bonds 1,57,300 - 1,57,300
(@ 7.15% on 22 lakhs)
e) Returns on Banking & PSU Debt Funds 6,00,000 6,00,000 -
(in Growth option) (Assuming annual return (tax is computed
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 1,68,000 1,68,000 -
option) (Assuming annual return to be 8.4% p.a.) (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 - 20,600
day to day needs and Emergency purpose @ 4% p.a.
on 5,15,000
Total 19,06,350 9,06,450 9,99,900

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

Total taxable Income 9,99,900
Less: Standard Deduction u/s 16A (from Pension income) 50,000
Deduction u/s 80 C (for contribution to PPF) 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.

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Important Note:
1. 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.
2. An amount of Rs. 20 lakhs has been invested in Dynamic Asset Allocation Funds to
ensure proper Assets Allocation.
3. 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.
4. 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:-

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 Tax Saving Guide: Your Guide to Tax Efficient Living

(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).
(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.

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 Bajaj
Tax Saving Capital
Guide: YourAll India
Guide toNetwork
Tax Efficient Living

Head Office: Corporate Office:

Bajaj House, 97, Nehru Place, Novus Tower, 1st Floor (East Wing)
New Delhi - 110019 Plot No. 18, Sector 18,
Phone No. (011) 41693000 Gurugram-122015, Haryana

NORTH REGION B-5, Tagore Market, Kirti Nagar, New

Delhi-110015, Phone No. 011-45072026.
DELHI Paschim Vihar: G-8 & 9, Ground Floor,
Bhanot Tower, A-Block Opp. Jwala Heri
CENTRAL DELHI Market, Paschim Vihar, New Delhi-110063,
Connaught Place: United India Life Phone No. 011-45524016.
Building, F19-Block, Connaught Place,
New Delhi–110001, SOUTH DELHI
Phone No. 011-41790444. Bhikaji Cama Place: 10, 11, 12, Ground
Rajendra Place: 9, Ground Floor, Rajendra Floor, Ansal Chamber-1, Bhikaji Cama
Bhawan, Rajendra Place (Opp. Rachna Place, New Delhi-110066, Phone No. 011-
Cinema), New Delhi-110008, Phone No. 26188644.
011-25734989, 41538597. Defence Colony: B-87, Ist Floor, Defence
Colony, New Delhi- 110024, Phone No. 011-
NORTH DELHI 41553182, 24338180.
Ashok Vihar: Shop No. 15, Ground Floor, Kalkaji: N-10, Kalkaji, New Delhi-110019,
Deep Cinema Complex, Ashok Vihar, Phone No. 011-26223507, 26443761.
Phase-I, Delhi-110052, Nehru Place: 97, Bajaj House, Ground
Phone No. 011-27461651. Floor, Nehru Place, New Delhi-110019,
Pitampura: Unit No. 124, D-Mall, Netaji Phone No. 011-41693000.
Subhash Place, Pitampura, Delhi-110034, Malviya Nagar: C-34, Malviya Nagar Near
M: No. 8588944430, 8588944438. SBI Bank, New Delhi-110017, Phone No.
011-40526033, 40455629.
EAST DELHI Vasant Kunj: 15, LGF Central Market,
Karkardooma: G-14, Sachdeva Tower, Plot Masoodpur, Vasant Kunj, New
No. 17, Community Center, Near HDFC Delhi-110070, Phone No. 011-26897632,
Bank, Karkardooma, New Delhi-110092, 26136319.
Phone No. 011-42420905, 40586975, Yusuf Sarai: 19, DDA Market, Commercial
40618995. Complex, Yusuf Sarai, New Delhi-110016,
Patparganj: DDA Shop No. 24, Ground M: No. 9873140258.
Floor, Rama Krishna Market, No. 1, I.P.
Extension, Patparganj, Delhi-110092, M: NATIONAL CAPITAL REGION
8800040268. Faridabad: 5R/1 Ground Floor, B.K. Chowk,
Near HDFC Bank, NIT Faridabad-121001,
WEST DELHI Phone No. 0129-4035241, 6466564, M:
Dwarka: F-4, Hl Square, Above ICICI 8800040274.
Bank, Plot No. 6, Sector-5, Dwarka, New Ghaziabad: G-5 & 6, Ansals Satyam
Delhi–110075, Building, Raj Nagar, District Centre,
Phone No. 011-42730057, 42730058, M: No. Ghaziabad-201002, U.P.
9711090044. Phone No: 0120-2322407, 4336207.
Janakpuri: Shop No. 11 & 12, 7-A, DDA Gurugram: Shop No. 114, 115,  AKD Tower,
Building, Janakpuri Dist. Centre, New Sector - 14, Gurugram-122001, Phone No.
Delhi-110058, 0124-4062590.
M: No. 9891050909. Noida Sector 29: A-2, Brahmputra
Kirti Nagar: Shop No. 3, Ground Floor, Commercial Complex, Near Rail

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Bajaj CapitalTax
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Saving Guide: Your Guide to Tax Efficient Living

Reservation Centre, Sector 29, Kolkata-700091. M: 6292113319

Noida-201301, Phone No. 0120-2451496, Mr. Biswapriya Mukhopadhyay, M:
2450100. 9932245644, Email: biswapriyam@
Noida Sector 41: C-20, C Block Market, bajajcapital.com
Sector 41, Noida-201301, Phone No. 0120- South Kolkata: 1st Floor, 4, Jatin Bagchi
4340111, M: No. 8800040270. Road, Kolkata-700029. Phone No.
Noida Sector 51: B-1A/10, 1st Floor, 033-40721198, 40721197, Mr. Avradeep
Commercial Market, B-Block, Sector 51, Mukherjee, M: 9836064260, Email:
Noida-201301, Phone No: 0120-4936900. avradeepm@bajajcapital.com
Sonipat: Opp. Old Civil Hospital, Railway
Road, Sonipat-131001, Phone No. 0130- JHARKHAND
6451297, 6451256, 2240623. Dhanbad: Room No. 103/A, 1st Floor,
Vaishali: Plot No. 2, Rameshwar Towers, Ozone Plaza, Bank More, Dhanbad -
Sector-4, Vaishali, Ghaziabad 201012, U.P. Jharkhand 826001.
Phone No: 0120-4349460,61, 6494072. Phone No. 9204799896, Mr. Goldi Saluja
(M: 7631044884), Email: goldys@
EAST REGION bajajcapital.com
Regional office: Unit No. 705, 7th Floor,
PS Srijan Corporate Park, Tower - 2, Block WEST BENGAL
EP-GP, Salt Lake, Sector V, Kolkata - Siliguri: 3rd Floor, Jatin Das Sarani
700091. Phone No: 033-40034196 (Near Jewel Club), Ashram Para, Siliguri,
Darjeeling-734001,
KOLKATA Phone No. 0353-2643545, Mr. Amit
Ezra Street: Sreeram Chambers, 4th floor, Somani (M: 9851131202), Email:
3/1 R.N. Mukherjee Road, Kolkata-700001. amitsomani@bajajcapital.com
Phone No. 033-40052060, Mr. Saikat
Ghosh, M: 9830954744, Email: saikatg@ BIHAR
bajajcapital.com Begusarai: Hotel Blue Diamond, Near
Lord Sinha Road: 507, Lords Building, Alka Cinema, Opp BRT Township,
5th Floor, 7/1, Lord Sinha Road, Begusarai-851117
Kolkata-700071, M: 8757324466, Mr. Rajesh Kumar M:
Phone No. 033-40611455, 40722012, 9931630362, Email: kumarrajesh@
40404749, Ms. Navaneeta Gadi, M: bajajcapital.com
9433069834, Patna: 108, Ashiana Plaza, First Floor,
Email: navaneetag@bajajcapital.com Budh Marg, Patna-800001. Phone No.
North Kolkata: 3rd Floor, Room No. 304, 756490268,
51, Vivekananda Road, Kolkata-700007, Mr. Manoj Kumar (M: 9811754911), Email:
Phone No. 033-40052635, 6292212222, Mr. manojkr@bajajcapital.com
Rajib Mondal, M: 9883364819,
Email: rajibm@bajajcapital.com ORISSA
Salt Lake: BF 192, Sector 1, Salt Lake, Bhubaneswar : Plot No-1/A, Ground
Kolkata-700064. Phone No. 033- Floor, Station Square, Kharvel Nagar,
40611466, 40611467, 40611468, Mrs. Arpita Bhubaneswar-751001
Nag, M: 9874047475, Email: arpitan@ Phone No. 6747960859, Mr. Sambit
bajajcapital.com Kumar Mohanty M: 8984031886,
Salt Lake Sector V: Unit Number 705, 7th Email: sambitkm@bajajcapital.com
Floor, PS Srijan Corporate Park, Tower - 2,
Block EP-GP, Salt Lake, Sector V,

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

ASSAM 20, Huzur Road, Behind Hotel Taj Vivanta,

Guwahati: 1st Floor, Rohini Apartments Coimbatore - 641018, Phone No. 0422-
Chandmari, G.N.B. Road Guwahati-781003 2309950.
Phone No. 8811017100, 8811034661, Coimbatore: R.S Puram: No. 575,
8811023771, Mr. Diganta Deka Bhagawati D.B. Road, First Floor, R.S. Puram,
Coimbatore-641 002,
SOUTH REGION Phone No. 0422-2540257 / 2555565 /
Regional Office: 3rd Floor, 65 A, GST 2555566.
Road, (S-7/1, Industrial Estate), Guindy, Karur: Chella Chambers 1st Floor, #74,
Chennai – 600032, Phone No. 044- Covai Road, Karur - 639002, Phone No.
23451234. 04324-241415 / 241416
Madurai: Suriya Towers, No.5, First Floor,
CHENNAI 272/273, Good Shed Street, Madurai - 625
Adyar: K.R. BUILDINGS, 12, L.B. Road, 001. Phone No. 0452-2345863, 2345884.
Adyar, Chennai- 600020, Phone No. 044- Salem: No.22, “Swarnambigai Plaza”
23451232, 23451233, 23451235. Omalur Main Road, Salem-636 009,
Anna Nagar: W-111, First Floor, 3rd Avenue, Phone No. 0427-2440700, 2441180.
Anna Nagar, Chennai - 600 040, Phone Tirunelveli: Shop No. 1, First Floor,
No. 044-23451243, 23451244. K.S. Arcade, Near Byepass Roundana,
Anna Salai: Ground Floor, No. 19, Vannarapettai, Tirunelveli - 627003, Phone
Wellington Plaza, 90, Anna Salai, No. 0462-2500432, 33.
Chennai-600 002, Phone No. 044- Trichy: L R Arcade, D7, 1st Floor, 1st
23451207, 23457307. Cross, North East Extn., Thillai nagar,
Guindy Branches 1-3: 3rd Floor, 65 A, GST Trichy-620018, Phone No. 0431-2763744,
Road, (S-7/1, Industrial Estate), Guindy, 844.
Chennai–600032, Phone No. 044-
22504939. KERALA
Mylapore: Ground Floor, No. 185/2, New Cochin: F-2, 1st Floor, N.J.K Thripthy
No. 246 Royapettah High Road (OPP : Building, Opp. to Medical Trust Hospital,
Naihaa Showroom) Mylapore, Chennai S.A. Road, Valanjambalam, Cochin - 682
- 600 004. Phone No. 044-23451241, 016, Phone No. 0484-2370056, 59.
23451242. Palakkad: ‘Wisakham’ 1st Floor, Near
Nanganallur: Shop No. 4, Plot No. 3, 29th Chinmaya Mission Guruvayurappan
Street, Nanganallur, Chennai-600061, Temple, Vinayaka Colony,
Phone No. 044-22247046, 22247047. Palakkad-678 001, Phone no: 0491-
Nungambakkam: No.29/15, Josier Street, 2545355, 2545579.
Nungambakkam Chennai 600 034, Trivandrum: Haji M Bava Commercial
Phone No. 044-40035300. Complex, Ground Floor, Near Old GPO,
T. Nagar: Bridge Port, New No. 29, Old No. Ambujavilasam Road, Trivandrum –
12, Burkit Road, T.Nagar, Chennai-600017, 695001, Phone No. 0471-2475112/2475251.
Phone No. 044-23451230, 23451231.
Velachery: Shop No.5, Ground Floor, Vikas KARNATAKA
Plaza, 37/C, Velachery, Tambaram Road, ZONAL OFFICE
Chennai-600042, Municipal No. 6/4, Union Street, 2nd
Phone No. 044-22434994, 22430129. Floor, Opp. HDFC Bank, Infantry Road,
Bengaluru-560001, Phone No. 080-
TAMIL NADU 25594999, 25559273, 74.
Coimbatore: Race Course: 1st Floor, No.

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Bajaj CapitalTax
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BENGALURU ANDHRA PRADESH

Indira Nagar: No. 803, 9A Main Road, Ist Vijayawada: 1st Floor, Siri Square, 40-
Stage, Indira Nagar Bengaluru-560038, 5-1, Tikkle Road, Opp. Hotel D V Manor,
Phone No. 080-25202657 / 658 / 656 / 659 Vijayawada - 520010,
Infantry Road: Municipal No.6/4,Union Phone No. 0866-2492245 / 35
Street, 1st Floor, Opp.HDFC Bank, Infantry Visakhapatnam: No. 47-9-20, Somunaidu
Road, Bengaluru-560001. Phone No. 080- Enclave, 3rd Lane, Near Harsha Labs,
25594999 Dwarakanagar, Visakhapatnam-530 016,
Jaya Nagar: No. 4, Lakshmi Mansion, 81/B, Phone No. 0891- 2506292, 2505957
8th Main Road, Opp. Kotak Mahindra
Bank, 3rd Block, Jaya Nagar, Bengaluru WEST REGION
-560011, Phone No. 080-22449643/ Regional Office: Unit No. 941, Bldg No.
22459388/ 26530302 9, 4th Floor, Solitaire Corporate Park,
Koramangala: No. 487, 1st, Floor, Andheri Kurla Road, Chakala, Andheri
KHB Colony, 5th Block, Koramangala, (E), Mumbai - 400093, Phone No. 022-
Bengaluru-560067, Land Mark: Opp. 40099999, 9136690609, Fax No. 40099911.
Krishna Temple, Phone No. 080-
25635596/080-25635597 MUMBAI
Malleshwaram: No. 32, Old No. 292/7, 15th Andheri: A-28, Laram Shopping Centre,
Cross Road, Margosa Road, Malleswaram, S.V. Road, Andheri (W), Mumbai,
Bengaluru – 560003. Phone No. 080 - Maharashtra-400058
23564156/57 M: 9136690579, 9136690580, 9136690581.
Marathahalli: 18, Krishna Sumit Building, Borivali: A-105, First Floor, Neelkanth
Unit No. 108, 1st Floor, Outer Ring Road, CHS, Opposite Pushp Vinod 3, Near
Marathahalli, Bengaluru-560037. (Next to Kora Kendra, SVP Road, Borivali (West),
Canara Bank) Phone No. 080-41483698 Mumbai. 400092. M: 9136690582, 83, 84,
Rajaji Nagar: 293/1/1, 17th Main 85.
Road “D”, IIIrd Block, Rajaji Nagar, Chembur: Unit No. 205, Business Point
Bengaluru-560010, Phone No. 080- Building Opp Sai Baba Temple Near
23387896 / 23357360 / 23507433 Chembur Monorail Station,
Chembur (East), Mumbai 400071, M:
MANGALURU 9136690587, 9136690588.
Mangaluru: Essel Towers, Shop No. BS4, Dadar: Rishiraj House Condominium,
Bunts Hostel Circle, Mangaluru-575003, Plot No. 331, Opp.Ram Mandir,
Phone No. 0824 - 4251787. Bhawani Shankar Road, Dadar (West),
Mumbai-400 028. M: 9136690589,
TELANGANA 9136690601, 9136690602, 9136690603,
Gachibowli: Plot No 22, Ayyappa 9136690604.
Arcade, 2nd Floor, Janardhana Hills, Fort: Office No. 2, Ground Floor, Karim
Gachibowli, Lane beside South India Chambers, Ambalal Doshi Marg (Hamam
Shopping Mall & Above Karnataka Bank, Street), Fort, Mumbai - 400001, Phone No.
Hyderabad–500031, Phone No. 040- 022-62427400, M: 9769096431.
48252222 Ghatkopar: 205, 2nd Floor, Atlantic
Secunderabad: Legend Crystal, Shop Commercial Complex, Above Vodafone
No. 4, First Floor, No: 1-7-79/A and B, Gallery, R.B. Mehta Marg, Ghatkopar
Mandalay Lane, Prendergast Road, (East), Mumbai – 400077. M: 9136690593,
Secunderabad-500003, Phone No. 040- 9136690594
44555555 Kharghar: No. 19, 1st Floor, Crystal
Plaza, Hiranandani Complex, Sector 7,
Kharghar-410210

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

M: 9136690595, 9136690596, 9136690597 40099999. Mr. Vishal Lakhani, M:

Sion: Shop No. 7A, Shiv Mahal, Plot No. 9773515883, Email: vishall@bajajcapital.
206, Near Union Bank of India, Sion (East), com, Mr. Surajit Banerjee, M: 9836657657,
Mumbai - 400022 surajitb@bajajcapital.com
M: 9136690598, 9136690599, 9136690600
Thane: 204, Cosmos Avenue Premises, KOLKATA
Opp. Thane Railway Station, Station Road, Unit No. 2B, Navjeevan building, 54/1A,
Thane (W) 400 602 Hazra Road, Kolkata–700019
M: 9136690605, 9136690607 Phone No. 033-40512626
Mr. B.J. Mozumdar, M: 9830872471, Email:
MAHARASHTRA boiduryam@bajajcapital.com,
Nagpur: Shop No. B-S1, Amarjyoti Palace, Mr. Saubhanik Datta, M: 9830066385,
Wardha Road, Dhantoli Near Lokmat saubhanikd@bajajcapital.com,
Square, Nagpur - 440012. M: 8983050155, Mr. Sanjoy Banerjee, M: 9836558885,
7276018576 sanjoyb@bajajcapital.com
Nashik: Shop No. 4, First Floor, Gulmohar
Arcade, Sharanpur Road , Opp Kulkarni BENGALURU
Garden, Nashik 422002, Phone No. Rohan 869, 1st floor, 80 Feet Road, 8th Cross, 8th
(Branch Manager) 9860576699, Branch M: Block, Koramangala, Bengaluru – 560095
9136944100 Phone No. 080-25707633, 634
Pune Bhandarkar Road: Suyash Plaza, Mr. Sidharth Prasad, M: 7760976465,
Office No. 08, 3rd Floor, Opp Yes Bank, Email: sidharthp@bajajcapital.com,
Bhandarkar Road, Near Kamala Nehru Mr. Nirupam Maity, M: 8880042800,
Park, Pune-411004. Phone No. 020- E-mail: nirupamm@bajajcapital.com
65009463, 67 Mr. Praphulla Kumar, M: 7795655251,
Pune Subhash Nagar: Shop No.24 & 25, prapullak@bajajcapital.com
Sanas Plaza, 1302 Subhash Nagar, Bazirao
Road, Pune - 411002. M: 9152010987/88/89 CHENNAI
Unit No. 15/33,1st Floor, Eldams road,
GUJARAT Alwarpet, Chennai - 600 018
Ahmedabad: 307, 3rd Floor, SPG Mr. G.D. Sivakumar, Phone No. 044-
Empressa Complex, Near Passport 23457801, 02-06. M: 9840961744,
Office, Mithakhali Six Road, Law Garden, Email: gdsivakumar@bajajcapital.com
Ahmedabad-380006
Rajkot: 302, 3rd Floor, Pacific Fortune, HYDEREABAD
5 Panchnath Plot, Near Jain Temple, Unit No. 3-6-522, 4th floor, Opp. Woodland
Rajkot-360 001. Showroom, Main Road, Himayathnagar,
M: 9152727346, 9152032983, 9662435050 Hyderabad-500029, Mr. K. Bal Reddy, M:
Vadodara: 106-107, 1st Floor, Siddharth 9989055601, Phone No. 040-66347477
Complex, R.C. Dutt Road, Alkapuri, Email: kbalreddy@bajajcapital.com
Vadodara–390005.
M: 8460050183, 184, 185, 189. DELHI & NCR
GURUGRAM - DLF PHASE IV
WEALTH MANAGEMENT CENTRES B-201, Super Mart 1, DLF Phase IV,
Gurugram-122002,
MUMBAI Phone No. 0124-4252961, Mr Anshul
Unit No. 941, 4th Floor, Building No. Saxena, M: 9811019846, Email: anshulsa@
9, Solitaire Corporate Park, Andheri- bajajcapital.com
Kurla Road, Chakala, Andheri (East), GURUGRAM - NOVUS TOWER
Mumbai-400093. Phone No. 022- Plot No. 18, Novus Tower, 1st Floor,

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

(East Wing), Sector 18, Gurugram UTTAR PRADESH

122015, Haryana, Mr. Manu Somani, M: Agra: Shop No. 110, Ground Floor, Block
8860360692, Email: smanu@bajajcapital. No. 27/2/4, Sanjay Palace, Near Hotel
com Panchrattan, Agra-282002. Phone No.
NEHRU PLACE 0562-4000953, 2521448
5th Floor, 97, Bajaj House, Nehru Place, Allahabad: G-28/29, Indira Bhavan, Civil
New Delhi 110019 Lines, Allahabad-211001,
Phone No. 011-4169 3000, 6700 0000. Phone No: 0532-2400243
Mr. Dhirender Singh Rawat, M: Kanpur: 106, Ratan Esquire, 14/144,
9873676724 Email: dhirendersr@ Chunni Ganj, Kanpur-208001 Phone No.
bajajcapital.com & Mr. Rishi Kapoor M: 9935366295
9811916266, rishik@bajajcapital.com Lucknow: 11, Ground Floor, M.G. Marg,
NOIDA Commerce House, Habibulla Compound,
K-66, Ground Floor, Ansal Fortune Arcade, Hazratganj, Lucknow-226001, Phone No.
K Block Road, Sector 18, Noida 201301, 0522-4039507
Uttar Pradesh, Mr. Amit Kumar Gupta, M: Meerut: FF-121 Ganga Plaza, Near SBI,
7838556984, Email: amitkg@bajajcapital. Meerut 250001, Phone No. 0121-4051709,
com M: 9358407723
PUNJABI BAGH Varanasi: Shop No. 36/49, Ist floor,
1/51, West Punjabi Bagh, Main Central Kuber Complex, Rath Yatra Crossing,
Market (Opp. Citibank), New Delhi -110026, Varanasi-221010
Phone No. 011-47020045/47020091. Mr. M: 9795652233, 9454768159
Amrendra Kumar Bipin, M: 9953000459,
Email: amrendrakb@bajajcapital.com RAJASTHAN
VASANT KUNJ Ajmer: Shop No. 12, Ground Floor, Ajmer
Shop No 1, First Floor, B-7, Local Shopping Tower, Kutchery Road, Ajmer, Rajasthan
Complex, Vasant Arcade, Opp Police 305001
Station, Nelson Mandela Marg, Vasant M: 9828052240
Kunj, New Delhi–110070, Phone No. 011- Jaipur: G-3, Anukampa Tower, Opp.
46560414, 15 Sangam Tower, Church Road (M.I. Road)
Mr. Abhishek Kumar. M: 9999600156, Jaipur-302001
Email: abhishekkum@bajajcapital.com Phone No. 0141-4026640, 2374332

PUNJAB UTTARAKHAND
Chandigarh: SCO 341-342, First Floor, Dehradun: Aarna Tower, 2nd Floor, 1,
Sector 35B, Chandigarh 160022, Mahant Laxman Dass Road, Astley Hall,
Phone No. 0172-4653341, 5089190 Rajpur Road, Dehradun-248001 
Ludhiana: Ground Floor, SCO-137, Feroze Phone No. 0135-2719377, M: 8439534917,
Gandhi Market, Ludhiana-141001 9756262139
Phone No. 0161-4612287, 2412287

MADHYA PRADESH
Bhopal: Shop No. 6 & 7, First Floor, Jyoti
Cinema Complex, M.P. Nagar, Zone 1,
Bhopal-462011
Phone No. 9826090517, 7554229297

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