It is the right time to take a good look at your portfolio and start your tax planning now. Here is what you need to know to get you started.
8 tax-saving mistakes to avoid
6 questions on tax-free bonds answered
Equity Linked Savings Schemes, ELSS
These are tax-saving equity funds that qualify for a deduction under Section 80C of the Income Tax Act. The lock-in period is just 36 months, as against the much longer tenures of other tax-saving investments. However, do not be in a hurry to exit such an investment. If the market is low when the 3-year tenure is completed, hang on. Sell when the market is in your favour.
The 5 largest ELSS
4 ELSS to consider for tax saving
How to select an ELSS
Public Provident Fund, PPF
It is the most common tax-saving vehicle because its tax benefits are matched by no other investment. Coupled with the assurance of safety, it is a good avenue to consider.
Deposit your PPF amount today
All your questions on PPF answered
Make the right choice: PPF, NSC, FD
Do you really need a PPF account?
ELSS or PPF: A wrong comparison
