Tax planning - calculation of income tax

[Asked by Guest]

Please can you help me out as to how the Tax is calculated, my Salary is 1.8 pa+incentives 12k.how much would be my Income tax and how can i save it.I want to make investment only to the extent tax is saved as I m planning for further studies.plz help me out

[SANTOSH SHARMA]

Dear Sir, Can an assessee take service tax credit on input services along with export under drawback. In this case we reverse the said input credit at the end of respective month. Please give reference of any case law or circular in this matter. regards, santosh sharma

AI Summary

Income tax calculation and investment-based tax saving strategies queried; also raises service tax input credit treatment with drawback reversal.
Query requests guidance on the method for calculating income tax where remuneration includes salary and separate incentives, and seeks investment options solely to obtain tax savings. A related respondent query asks whether service tax input credit may be taken together with export drawback and notes the practice of reversing the input credit at month-end, requesting case law or circular references to determine correct entitlement and reversal treatment.