Investment Options To Save Tax in 2016-17


Financial year 2015-16 is finally over now. We are sure that you must be looking for some good options which may be good investments and also help you to save tax. Here are few options that you might consider for saving tax:
Life Insurance: Life Insurance not only helps you save tax but also offers financial security to your family in case of some mishappening. You can be assured that atleast your family will is financially secured.Health Insurance: Buying a health insurance or Mediclaim helps in taking care of the expenses which are incurred in case of an accident or hospitalization. Also one can claim deduction of Rs. 25,000 or Rs. 30,000 in case he is a senior citizenAlso Read: How To Get A Tax Free Income of Over 10 Lakhs Legally
ELSS or Tax Saver Mutual funds :
Equity Linked Savings Scheme (ELSS) and Tax Saver Mutual Funds are also a good investment options. Investments towards tax-saving mutual funds are up to a maximum of Rs 1.5 lacs. Proceeds on death / maturity are tax-free in such schemes. Minimum lock-in period for ELSS is 3 years. 
Tax Saver Bank Fixed Deposit Schemes: Banks also offer few fixed deposits schemes that help in Tax Saving. These schemes provide returns ranging from 8.5 % per annum to 9.75 % per annum. The lock-in period in case of these is 5 years.PPF: Public Provident Fund currently offers a 8.1 percent interest, which is better than what most banks offer on their fixed deposits. It is a good investment instrument that gives Tax benefit of upto 1.5 lacs under Section 80 C. Also, the returns on maturity are tax free. The lock-in period on PPF is 15 years. Minimum investment required is Rs. 500 per year and Maximum can go upto Rs. 1,50,000.NSCs: NSCs are saving certificates that are issued by Post Office. NSCs are available for a minimum investment of Rs. 500 and can be bough in the multiples of 500/1000/5000/10,000. Interest rate for 5 year NSCs is 8.5% and for 10 year NSC, its 8.8%.We can discuss the above mentioned investment option in detail, if you wish. Got any queries? Just leave a comment, and we will be happy to answer. 
Also ReadThe Unspoke Truth of Being A Day TraderIntroduction To Technical Analysis The Moving Average Tutorial
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September 26, 2016 at 3:52 PM delete

Very interesting post!!!, i am very excited to read more article from your's. Keep posting.

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