Archives for

Sec 80C

Tax Planning: How to Save Taxes for FY 2013-14 (AY 2014-15)?

Everyone wants to save taxes but don’t want to spend time to understand How they can do it! In fact saving and investing money is as important if not more than earning it. Keeping this in mind I have prepared a 43 slides presentation covering all sections under which you can save tax for this [...]

How are you losing Money by investing in Fixed Deposits?

Most people believe fixed deposits to be the safest investment possible as its value never go down, there is no perceived risk of bank defaulting on payments and you can do FD online just on click of few buttons. But have you realized that investing in fixed deposit might be making some of you poorer. [...]

Whose name can Tax Saving investment be done?

We know that we can save taxes by investing in various instruments. But a few days back I got queries on whose name can various investments eligible for tax saving investment be done. There are people who want to invest in their wife’s or child’s name or jointly and claim tax exemption on the same. [...]

Best Tax Saving Fixed Deposit Rates U/S 80C – March 2013

Its last month of the Financial Year and in case you have not yet invested completely for your 1 Lakh Tax exemption u/s 80C and looking for Tax Saving Fixed Deposit (FD) Schemes, here is the list of top 30 banks with their Interest Rates. The best Tax Saving Fixed Deposit Interest offered is 9.50% [...]

Budget 2013: Are you eligible for Rs 2000 Tax Rebate under Sec 87A?

The highlight of budget 2013 for common man was the Tax Rebate of Rs 2,000 for people with income of less than Rs 5 lakhs. This has been made possible by inserting a new section 87A in the Income Tax Act of 1961. I posted the Income Tax calculator for FY 2013-14 and received a [...]

LIC Jeevan Sugam – Review

LIC (Life Insurance Corporation) has launched LIC Jeevan Sugam which is a non linked Single Premium Limited Period Plan. This is third plan launch from LIC in last two months. The last two launches were LIC New Jeevan Nidhi Plan [a pension plan] & LIC Flexi Plus Plan [Unit Linked Insurance Plan]. These launches are [...]

UCO Tax Saver Deposit Scheme – Interest & Annual Yield [Miss-selling Advertisement]

Its Tax Saving Season and all financial institutions are trying to en-cash this opportunity. If you are risk averse then five year tax saving deposit is one of the best avenues to save tax. UCO bank in its advertisement has published its annual yield, but has conveniently ignored to print the actual interest offered. I [...]

LIC Flexi Plus Plan – Review

January to March are the months when people rush to make Tax Saving Investments. Insurance companies know this and they launch newer products to get a pie of this. Keeping with these traditions LIC has launched Flexi Plus – a Unit Linked Insurance Plan (ULIP). LIC Flexi Plus – Features: Sum Assured is 10 times [...]

Best Tax Saving Mutual Fund ELSS Fund to invest in 2011-12

Best Tax Saving Mutual Fund / ELSS Fund to invest in 2012-13

ELSS (Equity Linked Saving Scheme) also popularly known as Tax Saving Mutual Funds are one of the best investments you can do to save tax and create wealth in the long run. But unfortunately according to the proposed direct tax code ELSS would be a thing of past and it would no more be eligible as tax saving instrument under section 80C of Income tax. Nevertheless Financial [...]

Can Tax Saving Fixed Deposit be done Online in SBI?

After I published the Best Tax Saving Fixed Deposit Options, I got several queries regarding if this Tax Saving fixed deposit can be done online in SBI? Fortunately I have an account with SBI and tried doing it myself. Though SBI offers facility of opening Fixed Deposit and Recurring Deposit Online but for SBI Tax [...]

SBI Tax Saving Deposit Scheme – Interest & Annual Yield

SBI recently advertised how the fixed deposits offered by SBI under Section 80C helps you save tax and the effective yield. But this is pre tax return. The interest you get is taxable in case of above deposits. Since they have assumed tax bracket of 30%, your post tax yield would come to 13.33% (from [...]

Investing in ELSS – Growth, Dividend Payout or Dividend Reinvestment?

In response to one of my previous post about Tax Savings Mutual Fund (ELSS), I got a query – While investing in an ELSS which option should I choose – Growth, Dividend Payout or Dividend Reinvestment? This is a question that haunts most of the new/ First time investors. Actually the problem is most of [...]

Tax Saving Fixed Deposit (FD) u/s 80C – Interest Rates

Tax Saving Fixed Deposit under Section 80C of Income tax is a popular and safe instrument for Tax saving. You can invest maximum of Rs. 1 Lacs in the same. Below is the list of banks and their respective interest rates offer for general and senior citizens for their Tax Saving FDs. The best Tax Saving [...]

Personal Finance: Changes from April 2012

With start of new financial year 2012-13, a lot would change from today in personal finance space. Here is the list. Good News: Increased Interest on Small Savings Scheme like PPF, NSC, etc: The government has increased interest rates on post office deposits like PPF, NSC, Fixed Deposit, Recurring Deposit, and Senior citizen Scheme in [...]

LIC Jeevan Vriddhi: New Advertisement

LIC had launched single premium life insurance plan - LIC Jeevan Vriddhi, which has death benefit of 5 times the single premium. With the new rules on Life Insurance in Budget 2012, the minimum death benefit should be at least 10 times the annual premium paid. This rule is however effective from April 1, 2012. So [...]

Life Insurance: Changes in Budget 2012

Life Insurance in India is more to do with Tax saving and Investment rather than actual “Insurance”. Budget 2012 has taken cognizance of this fact and has proposed to increase the sum assured limit as a multiple of the premium in order to enjoy tax benefits. Under section 80C of the Income-tax Act, premiums paid [...]

Best Tax Saving Mutual Fund / ELSS Fund to invest in 2011-12

ELSS (Equity Linked Saving Scheme) also popularly known as Tax Saving Mutual Funds are one of the best investments you can do to save tax and create wealth in the long run. But unfortunately according to the proposed direct tax code ELSS would be a thing of past and it would no more be eligible as [...]

Voluntary Provident Fund (VPF) – A Good Retirement Option!

Retirement planning is one of the most important financial goals in life of a person. Most of us have heard about Employee Provident Fund (EPF) and (Public Provident Fund) PPF for building retirement corpus but do you know how can you leverage Voluntary Provident Fund (VPF) to add zing to your corpus? What is Voluntary [...]

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