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Top 5 tax saving investments for last minute tax planning

From tax-saving mutual funds to public provident fund to Sukanya Samriddhi Yojana, here are five investments that can help you save taxes.

January 20, 2023 / 09:30 AM IST
While each of these tax-saving investments can help you cut your tax liability, keep your financial goals at the core while making investment decisions. More importantly, pledge to initiate the tax-planning activity for the next financial year on April 1.

While each of these tax-saving investments can help you cut your tax liability, keep your financial goals at the core while making investment decisions. More importantly, pledge to initiate the tax-planning activity for the next financial year on April 1.

This time of the year, most corporates ask employees to furnish investment proofs. Tax computations are based on what is submitted by employees and taxes are deducted accordingly. No wonder, the salaried crowd is busy getting documents in order.

What about those who have not yet invested and are looking for some quick tax-saving investments? This is what experts suggest.

Get the numbers right

Do not jump into one or the other tax-saving investment blindly.