If you are overweight on fixed-income instruments, go for ELSS, and vice versa.
'The decline was inevitable as one-year returns have been negative.'
Investors must, however, be prepared for volatility in ELSS, cautions Sanjay Kumar Singh.
If you fail to make the lump sum deposit before April 5, do so at least before the 5th of the next month (May). That way you will only lose out on the interest for April.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
A tax plan is not only to save taxes, it should also assist you in achieving your other financial goals such as buying a home, a car, children's education, retirement to name a few. Here are some top ways in which you could plan for your tax savings
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
An excerpt from 'Money Smart: The Indian Woman's Guide To Managing Wealth' by Reenita Malhotra Hora and Divya Vij that reveals various options to help you save tax as well as invest for creating long-term wealth.
A simple primer on how much money taxpayers can save under various sections of the Income Tax Act.
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
Tax planning will help you pay less income tax. Something everyone wants. But smart tax planning will help you boost your portfolio.
New retirement schemes from MFs offer Section 80C benefit but locks in your money for five years
rediffGURU Ulhas Joshi answers your mutual fund queries.
Want your investments to make money as well as save tax for you? Anil Rego has some advice
Few options that can help you plan taxes wisely.
The govt has incentivised the worst of investment products.
Ramalingam Kalirajan explains the pros and cons of both investment types.
Plan these investments well rather than just doing random investments at the beginning of the year or rushing in at the end, advises Harshad Chetanwala, co-founder, MyWealthGrowth.
Tax planning should not be left for March. If you do so, you could face a severe cash crunch in that month, warns Sanjay Kumar Singh.
rediffGURUS Hardik Parikh, Tejas Chokshi, Mihir Tanna and Sanjeev Govila answer your tax related queries.
We have millions of newbie investors who are clueless about how to handle sudden and severe adverse market reactions, which arrive from time to time, observes Debashis Basu.
If you're a salaried person there are many ways to save taxes
These funds can fetch double-digit returns over the long term which debt tax-saving products can't.
A combination of ELSS or PPF with a term plan offers better coverage and returns
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
The assets under management of the 44-players mutual fund industry stood at Rs 24.55 lakh crore in May-end from Rs 23.93 lakh crore in April-end.
Experts say the size of the fund shouldn't be a primary criterion for selection.
NSC scores high on all three parameters that conservative investors are seeking -- safety, tax-adjusted returns and liquidity.
A mistake here can prove costly.
Days ahead of the Budget, Reserve Bank Governor Raghuram Rajan on Wednesday pitched for increasing the tax exemption limit on financial investments by individuals from Rs 1.5 lakh a year.
'Investors don't have to worry about underperformance in passive funds, which earn market-equivalent returns.'
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
While the proposed new tax regime is optional for taxpayers, the finance minister has said the government eventually wants to do away with all exemptions with a lower tax-rate simplified structure.
Investors across age groups and risk appetite can invest in these schemes.
Taxpayers can claim a deduction on tuition fees for a maximum of two children.
In 2013-14, the funds witnessed outflow of Rs 2,293 crore
Foreign portfolio investors, on the other hand, have been net sellers in the markethaving pulled out Rs 8,600 crore
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
After the lock-in, ELSS investments should be en-cashed only when an important financial goal has arrived or there is a medical or other financial emergency in the family, says Anil Chopra -- Group CEO & Director, Bajaj Capital.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
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