Tax Saving Investment Options in India
Get upto Rs 45,000 in free money.
Salaried Individuals in India have various options for Tax Savings Investment Schemes. The most common is via investing in ELSS or Equity Linked Saving Schemes offered by various mutual fund houses under Section 80 C.
The maximum investment limit is Rs 1,50,000 with a potential to save upto Rs 45,000 in taxes (In 30% tax bracket)
This is almost akin to free money as not only are you saving money but it also grows in the Equity markets and you get an extra sum of Rs 45,000 which you would have otherwise paid in taxes to the Government of India.
Some folks also fail to take into account their PF contributions and Insurance policy premiums which are also eligible for tax benefits. E.g If your PF contribution is Rs 30,000 and insurance premiums are Rs 20,000, then you need to invest only Rs 1 lakh (instead of Rs. 1.5) to avail of full tax benefits.
Our guidance based model looks at your income, existing investments and recommends the optimum amount for investing to get maximum tax benefits.
It also includes the following:
- A consultation call to review your finances.
- Optimize your tax savings further (if possible) and a
- Starting your Investments (We do all the necessary paperwork )
Contrary to what your company’s finance team might tell you, one can make investments right uptill 31st March.
Tax Saving Options ?
There are quite a few ways to save tax.
- Section 80 C (Equity)
- Section 80 CCE (NPS)
- Section 80 D (Health)
- Section 80 E (Education Loan)
- etc etc