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Top 5 Tax Saving Funds to Invest and Save Your Money

A Tax Payer is should to be start tax planning inception of the financial year which has help him to achieve long term goals. Talking about tax saving, one of the best ways to save tax and earn on the same is to invest in approved funds.<br><br><br>Learn More.<br>https://bit.ly/2YnlPxH

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Top 5 Tax Saving Funds to Invest and Save Your Money

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  1. Tax Saving Top 5 Tax Saving Funds to Invest And Save Your Money

  2. Equity Linked Savings Scheme (ELSS) Tax-Saving An Equity Linked Saving Scheme (ELSS) are tax saving mutual funds that help the investors to save taxes up to Rs 1.5 lakh under Section 80C of the Income Tax Act. ELSS funds are considered ideal for new investors to start their investments in equity mutual funds. They, generally, have a mandatory lock-in period of three years and are among the shortest lock-in period among tax-saving investments permitted under Section 80C. The best time to start planning your tax-saving investments is at the beginning of the financial year. Most taxpayers procrastinate till the last quarter of the year, resulting in hurried decisions.

  3. National Savings Certificate (NSC) National Savings Certificates, popularly known as NSC, is an Indian Government Savings Bond, primarily used for small savings and income tax saving investments in India. NSC is a tax-saving instrument with a maturity period of five years. A person can purchase an NSC for as low as Rs 100 with no limit on the investment amount. It is part of the postal savings system of Indian Postal Service (India Post).(Bhairtiya Daak) These can be purchased from any Post Office in India by an adult (either in his/her own name or on behalf of a minor), a minor, a trust, and two adults jointly. These are issued for five and ten year maturity and can be pledged to banks as collateral for availing loans.

  4. Senior Citizen Savings Scheme Senior Citizens Savings Scheme (SCSS) is a government-backed savings instrument offered to Indian residents aged over 60 years. The deposit matures after 5 years from the date of account opening but can be extended once by an additional 3 years.

  5. Unit linked Insurance Plan (ULIP) ULIPs offer life cover, tax-saving and also help you grow your money over the long- term. However, unlike PF or ELSS, higher charges are associated with investment in ULIPs due to the life cover element. Also, there are certain conditions associated with ULIPs as it is a life insurance policy as compared to other tax saver. Just like all other products investments made under ULIP is also eligible for deduction under section 80C. A Unit Linked Insurance Plan (ULIP) is a product offered by insurance companies that, unlike a pure insurance policy, gives investors both insurance and investment under a single integrated plan. Resource: https://bit.ly/3hdfMo2

  6. Contact Us 011-45874037 query@vsrkwealthcreator.com www.vsrkwealthcreator.com

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