Find Out The Best Tax Saving Investment For Your Profile
We all know that investments are really important for the long runs well one more thing that we should be aware of is that investment with a
tax-saving component can be even more beneficial for us.
At the end of every financial year, we come across people who are trying to save their taxes well you will notice that either its confusion about the end number of options or are simply lazy. Before we panic or jump to any conclusions we should be aware of how much do we have to invest and where will that money provide us the maximum benefit. Under section 80C of the income tax act, Rs. 1,50,000 from the total income claimed as an exemption. All your expenses of provident funds, home loan EMIs, children education and health benefits these are all deducted from this exemption. So what you have to do is make a list of all your expenses and then deduct the total from Rs.1,50,000 and the leftover amount will be the exact amount that is available to you for investment.
There are many options for an individual to invest and save their income from taxes. Schemes like the provident fund, Insurance policies, National Pension Schemes, and investing in Equity-linked savings scheme. Choose your investment wisely as a wrong choice can really be costly in the long run.
Investment Through Insurance
You will notice that many insurance companies these days offer tax saving investment schemes with their policy. These schemes are really attractive to the customer as they offer a really low rate of premium with an assured high return. The whole point of taking insurance is to make sure that your financial needs are taken care of from time to time. So choose your insurance really wisely because this might even be the option for your long term wealth. Make sure that the plan that you opt for is correct and gives back a modest rate of interest and provides you with the full benefit of the policy.
Traditional Options
Many of us try to avoid all the hassle and opt for traditional banking options like the savings account or the fixed deposits to save money. These products are really beneficial as they are very low on the risk factor and the returns through this are fixed. However, the tax liabilities and inflation can actually hamper your returns. Hope you remember post demonetization banks were flush with funds and provided lower return interests. One can even opt for provident funds or the National pension scheme these are taxable at the time of maturity. But these options are usually only chosen by the people who are about to retire and have nothing to do further. Their returns stay the same but their rate may vary every now and then.
Don't see your suitable option here? Well, don't worry just pay a visit to your nearest PTIC branch and choose from a variety of investment options with good returns. Now choose and invest in only the options that suit you best with PTIC.
Elss
Equity Linked Savings Scheme commonly referred to as ELSS. These are a type of mutual funds with more than 65% of the portfolio that contains equity holdings.
ELSS funds exempted under section 80C and therefore the investor enjoys the dual benefits of tax savings and capital gains due to the exposure in the equity market. ELSS can be really good for someone who is a first-time investor as its a good exposure to the market and will ensure fiscal discipline. Also, ELSS can be a good option for individuals who have a high-risk tolerance and seeking tax benefits.
It is always the best option to concern the tax advisors before starting your investment. Therefore, seek the best expert advice on tax and savings and other schemes from the experts at PTIC. We at PTIC make sure that all the concerns of the customer and that no one has to bear any kind of loses. Get the best returns for your investment also choose from a variety of policy options at PTIC. Always standing there to provide you with our best services. Don't wait too long start investing with PTIC today for better and best returns.
