Tax Savings under Sec 80C – Deduction of 1.5 Lakhs under ELSS
Friends, I had already written a detailed article on tax saving schemes during the last Financial Year and thought of reminding you as the Finance/Payroll folks starts to chase us. Most of the content is valid today also and I have added the content in specific areas to reflect the changes for the current scenario. https://penguwin.com/taxing-time/ After retaining the popular Public Provident Fund (PPF) Interest rate at 8.7% for quite some years, Government in Feb...
Taxing Time
Dear Friends, Most of us typically run around for Tax Saving options during the months of Dec, Jan and Feb to exploit section 80C benefits and minimize taxes. There are a plethora of investment options under Section 80C including: Employee Provident Fund (EPF – company deducts this through payroll and this is an amount that everyone in organized employment saves), Public Provident Fund (PPF), 5 Year Tax Saving Bank Fixed Deposit, National Savings Certificate...
Excellent Tax Saver and Long Term Wealth Builder – ELSS
Dear Friends, Investors typically run around for Tax Saving options during the months of Jan and Feb to maximize Section 80C benefits, when the payroll processing team chases them to submit the actuals for IT exemption. Though declarations are submitted during the start of the year by May or June, which is essentially the plan on how the investments are proposed, most Investors are oblivious of this proposal and remember it only in Jan,...