Demystifying Tax Saving Infrastructure Bonds

As a youngster one is likely to have noticed that people who were earning got very active in the month of March and July. At that juncture it could have been hard to understand this common behavior. Once you received your first Form16 the mystery would have been solved! Now you are also likely to belong to the elite club that loses a few kgs due to stress sometime around Feb and March up to July! These two dates are the most dreaded dates in the earning community as you willingly surrender your hard earned money to the tax department on these dates. The more you earn the more you are liable to pay as taxes. One thing is sure - there is no way out of this but surely there are some consolation prizes for the investor community and one of them has been provided to you in Union Budget 2010-11 by introduction of a new tax saving scheme