Tax Saving Plan

Better tax saving plan will help a tax payers to get the best use of various tax exemptions, deductions and benefits to lower their tax liabilities.

Little Advice Can Help You To Get Your Tax Savings Done.

Understand your taxable income before tax calculation & savings
Understand the taxes on HRA and Home loan.
Know the amount you need to save
Start saving bills/receipts from various sources
Emergency funds to be kept aside
Insure your health and family, get tax benefits
Family protection can lead to your tax saving plans
Make regular Investments to save tax
Avoid endowment insurance plans, ULIPS and tax saving FDs due to  their higher lock in and tax implications.

What Comes Under 80C

80C is the very important for the service people. The maximum limit is 1,50,000 pa.

Heads Comes Under 80C

Premium towards life insurance for either self or family members.
Payment paid towards Superannuation/provident fund
Tuition fees being paid for children (Up to 2 children only)
Expenses for purchase or construction of housing property
Amount invested in tax saving fixed deposit for minimum term of five years
Apart from the above stated rebates, various other payments and investment such as mutual funds, investment in NABARD bonds etc are also entitled to tax rebate as per section 80C
Amount paid towards Deferred Annuities paid self or the Government
Amount deducted towards PPF
Tuition fees of max 2 children in a financial year
Home loan Repayment for a self-occupied residential property
The investment done in special Mutual Funds schemes under Central Board of Direct Taxes
Investment in SCSS
Contribution towards recognized Provident Funds Scheme, managed by the Union Government
Subscription money paid for Government endorsed Deposit Scheme
Subscription money paid for National Saving Certificates
Investments in ULIP Plans, 1971
Investment in any notified Pension Fund offered by National Housing Bank

Popular Tax Saving Shemes

Equity Linked Savings scheme (Mutual Funds)
Public Provident Fund
Employee Provident Fund
Tax Saving Fixed Deposit
National Pension System
National Saving Certificates
Unit Linked Insurance Scheme (ULIP)
Sukanya Samridhi Yojana
Senior Citizen Tax Savings Scheme
Voluntary Provident Fund

Comparison Of 80C Instruments:

S. No.OptionsInterestLock-in PeriodGuaranteed ReturnsRisk Profile
1ELSS12-15%3 YearsNoEquity-related risk
2PPF8.10%15 YearsYesRisk-free
3NPS8-10%Till retirementNoEquity-related
4NSC8.10%5 YearsYesRisk-free
5FD7-9%5 YearsYesRisk-free
6ULIP8-10%5 YearsNoEquity-related risk
7Sukanya Samriddhi8.60%21 YearsYesRisk-free
8SCSS8.60%5 YearsYesRisk-free

Section 80C Calculator

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Past performance is not an indicator of future returns. Wealth Redefine is a AMFI registered Mutual Fund distributor – ARN - 85350

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