#1
8th March 2016, 01:31 PM
| |||
| |||
Investment plans For Tax Benefit
Hi buddy can you tell me about Investment plans by which I can get Tax Benefit, as I want to do smart investment of my money , can you tell me for the same ??
|
#2
8th March 2016, 02:06 PM
| |||
| |||
Re: Investment plans For Tax Benefit
As you are asking for Investment plans free of text or tax saving , so here I am telling some option here : Public Provident Fund P. P. F., this tax saving option falls within the Section 80 C of the Income Tax Act in India Benefits under Public Provident Fund (PPF) The investor enjoys the rebate on his investment under section 80C of I.T. Act 1961 Interest income on PPF and the final amount is considered as tax free Investment in small amounts can be made every year for a longer duration Investments are fixed deposited for 15 years Balance amount held in Public Provident Fund is tax exempted from wealth tax If one starts his/her PPF account in the year 2015, then the turn of events is shown as under. Starting from the seventh year one can reap the benefits of his/her PPF scheme. Unit Linked Insurance Plans Covered by the Income Tax Act's Section 80 C, U. L. I. P. is a unique blend of investment and insurance that gives a tax exemption of INR. 100, 000 per year. Benefits under Unit Linked Insurance Plans Investments under ULIPs are eligible under Section 80C of the Income Tax Act. Maturity earnings from ULIPs are tax exempted Equity Linked Saving Scheme this is a kind of mutual fund that comes within the Income Tax Act Section 80 C. Fixed Deposits Fixed Deposits (FDs) are another popular tax saving option covered by the Section 80 C of the Income Tax Act. Employee Provident Fund Famously called E. P. F., this scheme offers a total yearly exemption of INR. 100, 000 as mentioned in the Income Tax Act Section 80 C Post Office Saving Options Recurring Deposit Account (5 Year) Time Deposit Account Public Provident Fund Account (15 year) National Savings Certificate (VIII issue) Senior Citizen Savings Scheme |