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Tax Consultant firms in India |
The financial year is fast coming to an end. If you’re reading this article then you probably haven’t taken your investment and tax planning as seriously as you should have. Worry not though. There’s just enough time left for you to sneak in a tax-saving investment. Just make sure you don’t put it off for much longer.
Here are some options for you to save tax under , where you can invest and save up to Rs. 1.5 lakh in taxes.
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What To Buy
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How much
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Where
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Benefits
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You need
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Processing time
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Rs. 100 upwards
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Through authorised banks, post offices
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Safe investment, 8% ETE returns, 5-year lock-in
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Investor’s name, cash or DD.
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1 working day
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Recommended for long-term investmentf
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Rs. 500 to Rs. 1.5 lakh
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Through
authorised banks, post offices
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Safe
investment, 8% EEE returns, loan on investment facility, 15-year maturity
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ID &
address proof, 2 colour photographs, account opening form (for offline
application)
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1 working
day
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Best saving
scheme for the general investor, great tool for long-term wealth building.
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Rs. 500 upwards
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AMCs, distributors, agents
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Market-linked and tax-free returns, 3-year lock-in
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KYC documents, cheque,
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1 working day
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Great for long-term wealth creation; can be bought easily online.
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Depends on coverage, age
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Insurers,
agents, online aggregators
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Life cover
with investment benefit
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KYC
documents, cheque, photograph. For some term plans, income proof and health
check
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1 day to
1-2 weeks
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Go online
to compare and buy a cover as per your needs. Pick a term plan if you have
dependents.
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Rs. 200 upwards
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Insurers, agents, online aggregators
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Safe investment, 6.6%-7.5% returns
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KYC documents, PAN card, cash or cheque,
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1 working day
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Low returns currently along with poor tax efficiency. Use minimally,
buy online.
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Original Source: http://bit.ly/2nftOZi
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