Tax Saving

There is more to tax saving than the exemptions available on investment made by you. With right investments, you will pay the right amount of tax and know how to tax proof your income and gains. After all, your capital is more productive in your hands and it can work wonders for you if invested properly. It starts with tax saving which can increase the take home income. These investments can also cater to a few of your needs. Tax saving is not restricted only to tax savings investments under Section 80C. There are several other components e.g. HRA, Home Loans, LTA, Sec 80D, Re-imbursements, etc to reduce the taxable income.

Keynotes:
  • By careful understanding, one can reduce tax liability substantially.
  • Do not wait for last minute. Start in April and use monthly investments to reduce risk. It will be easier on your pocket as well.
  • Use tax efficient investment avenues. You should not be paying too much tax on their returns.

FAQs

Which is the best tax saving investment under Section 80C?

The best tax saving investments under Section 80C in India are many. Rijhwaani Associates helps investors choose the right 80C combination based on their age, tax slab, and requirements.

ELSS (Equity Linked Savings Scheme) is a type of tax-saving mutual fund in India that qualifies for deduction under Section 80C of the Income Tax Act. Whether ELSS is better for you than PPF for tax saving? That depends on multiple parameters. Rijhwaani Associates helps clients choose between ELSS and PPF based on individual profiles.

Yes, you can invest in ELSS mutual funds through an SIP (Systematic Investment Plan) for tax saving under Section 80C in India. Rijhwaani Associates assists investors in setting up ELSS SIPs with the most suitable ELSS funds.