ChennaRaghavendra Raja
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Need tax saving options

Chennaraghavendra Raja at 10:49 AM - Nov 16, 2012 ( ) Views: 394

Hi All,

I need some guidence for tax saving purpose. To avoid tax I need to make an investment of 64k. I am 33 yrs old having one child. I have life insurance policy and no childrens plan. Initially thought of taking Child plan but allocation charges and fund charges are more. So looking for options to invest for tax saving purpose.


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Sanjeev Nevatia at 06:43 PM - Nov 16, 2012 ( )

GO for

1. PPF, lockin period 15 years, minimum 500 and maximum 100000 can be invested. Investment, interest and maturity all are taxfree, moreover its safe from any liability (in case of insolvency).Google about PPF for more information.

2. ELSS, lockin 3 years, investment and maturity taxfree. For long run say 10 to 15 years, should be much more profitable than any other taxfree investments. (Have a target of profit in mind, bcoz expected profit can be obtained much earlier than expected).

3. FD of banks, lockin 5 years. Interest is taxable. Good time to invest now as the interest rates are expected to be lowered. This is for risk free investments, but tax on interest will bring ur actual return down.

these are some of the 80c investments which I like. 

Dilip Nilekar at 06:12 PM - Nov 16, 2012 ( )

Never Buy any ULIP policies of any company's.

You buy only a Pure Term Plan i.e Pure Life Risk. In this policy u won't get any maturity gain.

Secondly, Open an ETF Gold A/c  and buy every month gold worth 1000/- also. In long run say 20 yrs you will accumulate enough money in Units.

But before opening EFT gold Fund a/c get every informations e.g  Allocation charges,Lock in period,Brokerage etc etc.

All the best.

Chennaraghavendra Raja at 06:01 PM - Nov 16, 2012 ( )

No comments????

Chennaraghavendra Raja at 11:05 AM - Nov 16, 2012 ( )

Sr's pls advise.

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