You can invest a maximum of Rs 1.5 lakh in these FDs
Banks may have to align systems to accept deposits for a previous financial year
It would be better to link them to long-term goals such as retirement
Your lifestyle and other monthly expenses should be limited to the income you get home from your business every month
Understand the conditions attached to make the most of it.
As compared to other havens available under Section 80C of the Income Tax Act, ELSS has the shortest lock-in period
It's amazing to see so many Indian women following their passions and starting new ventures.
The final date of making investments is about to come, are you done with all your investments? If you still haven't invested your money in tax saving instruments and reduced your tax liability then also, you need not have to worry about it. Section 80C of Income Tax Act provides you with the benefit of doing tax savings of Rs 1.5 lakh in a particular financial year. Here are nine tax savings solutions.
If you have not invested to save income tax, here is how to go about it.
A woman's financial plan must be aimed at creating long-term financial stability. Their emotional needs must be factored into the financial plan.
Financial planners and experts seem to be in agreement that Equity Linked Savings Schemes (ELSS) is the best investment avenue under Section 80C of the Income Tax Act since it outscores other options in terms of liquidity and returns.
Financial plan should be the driving factor behind your investments and not the tax planning.
Investing in tax saving ELSS mutual funds would help you to save tax u/s 80C as well as giving superior returns.
ELSS are built to offer benefits of capital appreciation based on equity gains and tax benefits to investors.
Here are some of the ways in which an investor can ensure that they have the right proof available with them that will be enough to claim the deduction that they have made
Tax saving and not the risk cover is the sole influencer on the insurance buying in India.
If you plan it well, you can save a lot on income tax front and enjoy your salary.
Don‘t yet heave a sigh of relief if you have already claimed the tax-benefits for the past year based on investments in various instruments. Chalk out your yearly tax-saving plan in April to save many troubles later.
PPF should continue to offer positive real returns. One should look at his goals and risk profile before investing.
REIT investors saw some positive announcements. However, time tested instruments such as EPF saw some increase in tax. Dividends for big investors attract additional tax.
While a PPF and insurance policies offer some stability to your portfolio, ELSS ad NPS offer to create wealth in the long term.
It offers you tax saving under section 80C of Income Tax Act, for investments up to Rs 1,50,000.
Tax saving mutual funds, also known as ELSS, do come with some volatility, but in the long term they also offer an opportunity to create wealth.
Instead of taking a quick decision on the big commitment of second home, it pays to list down all the advantages and disadvantages. And then take an informed call.
ELSS Mutual funds would help you to get tax benefit and also higher capital appreciation comparing to other tax saving options