Plan your Taxes for
this Financial Year by following few easy methods
Hello
reader….. Today we as a best financial advisor in Lucknow share a blog Tax
Planning. Have you planned tax for this financial year? I know that tax planning is a boring and time
consuming activity but also important that we need to do every year. Though, we
cannot help you avoid tax planning but can help you with all the information
that you need to plan your taxes and thus save money. Read this blog to know
how you can plan your Taxes for this financial year.
One
can claim his investments or payments under section 80C, 80CCC and 80CCD, up to
Rs. 100,000 (One Lac Rupees only) combined limit - Amount can be invested in:
1.
Life
insurance/Unit Linked Insurance Plan (ULIP) premiums
2.
Public
provident fund (PPF)
3.
National
Savings Certificate (NSC) or National Service Scheme (NSS) or Post Office Tax Saving
Deposits
4.
Accrued
Interest of NSC VIII Issue
5.
Investment
in Rural Development Bonds of NABARD
6.
Five year
Tax Saving Bank Fixed Deposits (For 5 years or more)
7.
Investments
in Mutual Funds Tax Saving Schemes (ELSS)
8.
Employee
Provident Fund (EPF) - Employee’s Contribution only
9.
New Pension
Scheme (NPS) - To the extent of 10% of your salary by the Employer or Central
Government will be eligible for additional tax benefit over & above the Rs.
1.00 Lac limit u/s 80C
10.
Home Loan –
only Principal amount paid (If you have got possession of the property)
11.
Senior
Citizen Savings Scheme 2004, if you are more than 60 years of age
12.
Pension
Scheme or Retirement plans under section 80CCC
13.
Tuition Fees
(excluding donations/ development fees) paid for Children (Max 2 Children only)
for full time education in school/ colleges in India only.
14.
The amount
you pay as stamp duty when you buy a house and also the amount you pay for the
registration of the documents of the house can be claimed as deduction under
section 80C. And this can be done in the year of purchase of the house only.
We the best financial advisor in Lucknow is there to help you manage your wealth and make you aware of market risk .
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