If you want to save income tax in india, you can take advantage of the section 80 C and 80D income tax law. All the Best insurance plan are eligible for tax savings as per section 80D. In addition, if you purchase health insurance for your family as well as for your parents, you would be saving up to Rs. 35,000. there are many other options you can choose for income tax saving.
There are mutual funds designed for tax savings that come with a lock-in period of minimum 3 years. such mutual funds would notpay back the money within 3 years from the start of the fund. Such a mutual fund comes with high levels of returns. Another instrument that can help you save tax and make good investment in india in the form of Fixed Deposits or FDs. Bank fixed deposits are tax-saving for a specific period of time, usually 5 years. A bank FD would give you cumulative interest with a high level of safety.
Choosing the Best insurance plan from Life Insurance Corporation of India can also be a good tax saving step. In addition, you would be securing your and your familys life against any type of danger. LIC offers many different plans and you can choose the one that suits best to you. Public Provident Fund or PPF are similar to the Provident Funds in the case of salaried individuals. It is also a tax saving instrument.
PPF scheme has a 15-year tenure and the amount can be withdrawn within this period only once after 5 years. It is possible to open a PPF account with a post office or with any branch of State Bank of India. It would be required to make at least a single deposit in a year to maintain the account. National Saving Certificate bond is the next tax saving investment in indiato help you save tax. Also known as NSC bonds, they are available with post offices. This instrument would give you safe returns after a fixed period of time.
Equity Linked Savings Schememake another tax-saving investment options. Also known as ELSS, these are basically mutual fund-based schemes and carry a certain amount of market risk. However, the returns and highly rewarding and the investor can save tax. ELSSs come with obligatory lock-in period of 3 years. because they are long-term equity assets, thereforethe returns you receive are tax-free. Even with a lock-in period of 3 years, it would be better if you continue to invest for a longer period because equities can generate the highest returns in the long term.
These are the most widely used investment options nowadays for saving tax. If you are open to risks, then you should give more emphasis to mutual funds. However, if you want to expose yourself to moderate level of risk, invest 60% in mutual funds, 20% in fixed deposits and 20% in PPF. However, if you dont want to take an risk, then you should be investing solely in fixed deposits, PPFs or NSCs. Whichever option you choose from these instruments, they would all provide you income tax saving.
About the Author:
investment in india
Best insurance plan
investment options
Article Originally Published On: http://www.articlesnatch.com
Finance RSS Feed
| RSS feed for this author
- How To Avail Grants From The Government By: JoneyFranklin | Nov 1st 2012 - there are many grants available for the people who are under privileged or are in need of help to upgrade their standard of living. Tags: government grants for college, minority business grants, fed
- Tips To Get In Touch With The Best Accountant For Your Business By: Angela | Nov 1st 2012 - , it is advisable that you should avail of the services of a qualified professional accountant, for preparing the tax statements of your organization. Here are some factors which need to be taken care of, as you search for the ... Tags: accountants Ireland, accountant cork
- Find The Right Lender For A Business Cash Advance By: Money Lender | Nov 1st 2012 - Finding the right lender for your business cash advance is crucial to your getting the quality financial services you need. At UnsecuredBizLoan.com, we offer a wide range of professional financial services to include business l ... Tags: business cash advance
- Pay Unexpected Bills With An Unsecured Business Loan By: Money Lender | Nov 1st 2012 - A small company may occasionally have a dilemma when faced with unexpected bills and low cash flow at the same time. For this problem, an unsecured business loan can be an ideal solution. Tags: Unsecured Business Loan
- Our Small Business Loan Lenders Offer Great Rates By: Money Lender | Nov 1st 2012 - If you are seeking a small business loan, youve come to the right website. UnsecuredBizLoan.com has connections all over the country with small business loan lenders who can offer great rates to small business owners in need ... Tags: Small Business Loan Lenders
- What You Can Do With Unfair Debt Collection Practices By: Money Lender | Nov 1st 2012 - If a debt collector is using harassment or deceit to collect money on a debt you owe, you do not have to take it anymore. You can fight back against unfair debt collection practices. Debt collectors are bound by a powerful law ... Tags: Debt Collection Practices
- Let Our Credit Repair Team Put You Back On The Right Financial Path By: Money Lender | Nov 1st 2012 - Your credit score is one of the most important numbers in your financial life, but often it isnt as high as you want it to be. Because your credit score is based on information that is manually reported to the credit bureaus ... Tags: credit score
- Unemployed Need A Loan: Fulfilling The Needs Even Without A Job By: Rider Abraham | Nov 1st 2012 - Unemployed Need a Loan is that financing scheme always providing benefits to the jobless people for satisfying their urgent demands. Tags: Unemployed Loans, Loans Unemployed, Loans for Jobless
- 1 Month Loan Uk 12 Month Payday Loans By: Petra Denisses | Oct 31st 2012 - our loans for 1 month loan, one month loan, 12 month cash loans, 12 month payday loans Tags: 1 month loan, one month loan, 12 month cash loans, 12 month
- 1 Month Loan Uk 12 Month Cash Loans By: Petra Denisses | Oct 31st 2012 - our loans for 1 month loan, one month loan, 12 month cash loans, 12 month payday loans Tags: 1 month loan, one month loan, 12 month cash loans, 12 month payday loans
Still can't find what you are looking for? Search for it!
Loading
Site Navigation:
houston texans Alex Karras BCS Rankings 2012 the walking dead the walking dead Walking Dead Season 3 aaron rodgers
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.