Before you rush to make any investments under Section 80C, check the outflows that qualify for a deduction in this section.
1) EPF contribution
If you are a salaried employee, calculate the amount that is already exhausted under the EPF. This is a forced contribution from your salary to your provident fund.
2) Education expenses
Now look at the education expenses of your child. To avail of a tax break, the fees are for a maximum of two children and for full-time courses at a recognised institution within India.
3) Home loan repayment
The principal paid towards a home loan, up to Rs 1.50 lakh, can be claimed as a deduction.
4) Life insurance premium
If you are paying any premium towards life insurance policies, then this too will qualify for a deduction under Section 80C.
Only once you have exhausted the above, look at the investments permitted under this section.
EPF: Employees' Provident Fund
PPF: Public Provident Fund
NSC: National Savings Certificate
ELSS: Equity Linked Savings Scheme -->> This is the Best Tax Saving option
Top 4 Tax Saver Mutual Funds for 2016 - 2017
Best 4 ELSS Mutual Funds to invest in India for 2016 - 2017
1. DSP BlackRock Tax Saver Fund
2. Invesco India Tax Plan
3. Tata India Tax Savings Fund
4. BNP Paribas Long Term Equity Fund
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
Invest Best Tax Saver Mutual Funds Online
Download Top Tax Saver Mutual Funds Application Forms
For further information contact Prajna Capital on 94 8300 8300
------------------------------
Leave your comment with mail ID and we will answer them
OR
You can write to us at
PrajnaCapital [at] Gmail [dot] Com
OR
Call us on 94 8300 8300
------------------------------
0 comments:
Post a Comment