Saturday, September 20, 2014

10 tax saving investments and tips for Salaried fy 2014-15 ay 2015-16

10  tax saving investments and tips for Salaried  fy 2014-15 ay 2015-16

  • Ways salaried individuals can save taxes - Best Tax Saving Tips.
  • Tax Free Investment Plans‎?
  • How to make the most of the extra Rs 50K tax deduction under Section 80C
  • Tips to use tax-saving instruments and maximise returns ?
  • What are the Tax & investment tips for financial year 2014-15 assessment Year 2015-16
  • Best Small Savings / Investment Plans in India
  • 100% Income Tax Exemption‎
  • Tips to Save Income Tax for Salaried Person
  • HDFC Life™ ULIP Plan - Invest Rs 1000/Month‎
  • Principal Mutual Fund - Are you new to Mutual Funds ?
  • Invest In Tax Saving Fund‎

Tax & investment tips for financial year 2014-15 assessment Year 2015-16

ELSS is the best for those who can invest for long term and can take some risk. PPF is best risk free option for saving tax.PPF is best option as it gives tax free income as well as 80C deduction. On all other investments interest is taxable as per rate applicable to concerned and this reduces income less than earned on PPF.All the surplus should be going to PPF, since it earns a healthy return and that too the resultant income is non taxable.

ULIPs and ELSS schemes have not yielded any decent returns in the last 8 to 9 years. May be because the mutual fund industry is in shambles with no clear regulator to prevent arbitrary scheme changes/mergers, closure of fund houses. Many who believed mutual funds including ELSS have lost badly without hope of  reclaiming. NSC a month with renewal on maturity provides for a decent pension for the same amount. This works well, if Post Offices allow online buying.

The SCSS is eligible for tax deduction under Sec 80C, which is why it is better than an ordinary fixed deposit. We also like to point out that tax saving fixed deposits will not allow premature exits. However, SCSS will not be any better than a tax saving fixed deposit.

Other options are NSC, Kisan Vikas Patra Children School Tution Fees, Home loan Principle Repayment, Provident Fund

At times Mutual funds are also investment options.But invest in Tax Saving Mutual Funds Carefully.

Source of Information:

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