Skip to main content

Make Investment upto Rs 1.5 lakh to Save Tax in FY 2011 - 2012

Current open Infra Bond Application form

 

It pinches a lot when heaps of amount goes out of our income as tax deduction, then why not to spare a little bit of our income to tax saving instruments. Every year Government comes up with new avenues for tax savings to encourage us to utilize our savings in a better fashion. But most of us often scramble things at the last moment.

It's always better to plan things well before on time so as to catch hold of right investment opportunities. This will help you to determine which tax-saving investment option suits you the best.

Let's have a look at some of the tax-saving options available:
The maximum deduction under 80C, 80CCF and 80D put together is Rs 1,50,000. This implies now you can invest up to Rs 1,50,000 for financial year 2011-12 under section 80C (Rs 1,00,000), under section 80CCF (Rs 20,000) and under section 80D (Rs 30,000). Apart from this, you can also save on your education
loan expenses under section 80E.

Tax-saving instruments available under 80C (Maximum limit: 1,00,000):
You can invest a sum up to Rs 1,00,000 under section 80C. The section 80C has been further categorized into three parts: Market Linked saving schemes, Fixed Income saving schemes and Other expense related deductions.

  • Market Linked: Equity Linked Savings Schemes (ELSS Funds of Mutual Fund) with lock-in of 3 years and Unit linked Insurance Plans (ULIP) with lock-in of 5 years.
  • Fixed Income: Public Provident Fund (PPF), Employees Provident Fund (EPF), Bank and Post office Time Deposit Schemes (Fixed Deposits) with a lock in of 5 years, Pension Funds, Nabard Rural Bonds, National Saving Certificates (NSC) 5 years, Kisan Vikas Patra, etc.
     
  • Other deductions: Life Insurance Premium, Interest and Principal on Home loan and Children's Tuition Fees.
Tax-saving instruments available under 80CCF (Maximum limit: 20,000):
The Government has introduced another option this year, under the
income tax clause 80CCF, in the form of infrastructure bonds where you can invest up to 20,000 and claim for deduction. Infrastructure bonds issued by both public sector or state owned companies as well as private sector companies would qualify for investment under this section.

Tax-saving instruments available under 80D (Maximum limit: Rs 30,000):
You can invest a sum up to Rs 30,000 under section 80D. You can claim a deduction for payment of Medical Insurance Premium i.e Contribution to Central Government Health Scheme. As per the provisions of the Act, you can claim Rs 15,000 for self, spouse and dependent children. You can also claim additional of Rs 15,000 for parents contribution.

Tax-saving instruments available under 80E:
You can also claim for your
Education Loan for tax saving purpose as the the interest on the education loan is deductible under the clause 80E.

Choose tax saving Investments carefully depending upon your short term and long term requirement of funds. It's always appropriate to consult Investment Manager or Financial Planner before making any investment.
 

 ---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

 

Current open Infra Bond Application form

 

 

Submit filled up application    Collection canter near you

 

 

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

 

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

 

These Application Forms can be used for buying regular mutual funds also

Popular posts from this blog

Debt Mutual Fund Dividends are Taxable

DDT is deducted when a non-equity fund declares dividends. Equity and balanced fund dividends are tax-free The AMC is correct to deduct the dividend distribution tax (DDT) as it is mandated by tax laws. DDT in mutual funds is deducted every time a non-equity fund declares dividends. Equity fund and balanced fund dividends are tax-free . It is possible that you have invested in a non-equity fund for the first time or have received the dividend under a non-equity fund for the first time. That is why this is the first occasion when you have come across DDT.   The rate at which non-equity schemes deduct DDT has also gone up after the July 2014 budget. This is due to a change in calculation methodology. Earlier, if the fund has to declare a dividend of R 100, it used to make a provision for R 128.3, paying R 28.3 to the taxman and distributing the balance to the investor. This allowed the investor to bear less tax since the effective tax rate was 22.07 per ce...

Franklin India High Growth Companies Fund

Franklin India High Growth Companies Fund Online One of the key developments that the Street is keenly waiting for is a cut in interest rates by Reserve Bank of India . With demand rising gradually, a rate cut is expected to boost earnings growth for companies. In such a situation, schemes which invest in high growth companies are best suited, especially when seen from a long-term perspective. One such scheme is Franklin India High Growth Companies Fund. Fund managers Anand Radhakrishnan, Roshi Jain and Srikesh Nair strictly follow valuation parameters when it comes to choosing stocks.Valuation parameters, such as enterprise value, price-to-earnings growth ratio, forward price-to-sales ratio and discounted earnings per share, play a critical role in selecting companies for investments. Taking into account these parameters, the fund managers invest in companies which are poised for high growth in their respective sectors. This approach has been in favour of the scheme and it has perform...

Mutual Fund Exit Load Changes

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 Mutual Fund Exit Load Changes AMCs don't communicate about any change in exit load directly with investors, but do update on their website   The exit load applicable to your investments is the load which existed at the time when you invested in the particular fund. Any subsequent changes in the exit load will not be applicable to your investments.   However, Asset Management Companies ( AMCs ) periodically publish addendums in the newspapers, which state any change in exit loads of specific schemes managed by them. Such changes are also posted on their websites. However, a direct communication to an investor is not made, considering the costs involved in doing so. In their own interests, investors should not only track the performance of the funds they i...

Atal Pension Yojana contribution Tax Benefit for spouse

Contributions to Atal Pension Yojana (APY) are eligible for the same tax benefits as the NPS. This means that the contributions can be claimed under Section 80CCD (1B). The current limit for Section 80CCD (1B) is   Rs   50,000, over and above the   Rs   1.5 lakh limit under Section 80C. Section 80 CCD (1) is a different one, meant to cover employers' contribution towards NPS . You cannot get tax benefit by investing in the name of your spouse under Section 80 CCD . ------------------------------ ----------------- Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds Top 10 Tax Saver Mutual Funds to invest in India for 2016 Best 10 ELSS Mutual Funds in India for 2016 1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. Religare Tax Plan 4. DSP BlackRock Tax Saver Fund 5. Franklin India TaxShield 6. ICICI Prudential Long Term Equity Fund 7. IDFC Tax Advantage (ELSS) Fund 8. Birla Sun Life Tax Relief 96 9. ...

Avoid NFOs

  Don't get taken in by the flurry of new fund offers. You will be better off sticking to the tried and tested schemes.   For the past one year, to cash in on the bull run in equities, mutual fund houses have gone on a new fund offer (NFO) overdrive. But experts are unanimous in their advice: avoid NFOs . While past performance is not an indicator of how a fund will fare in the future, it does tell the investor how skilful the fund manager is. This crucial information is missing in an NFO. Not only is there no track record to judge an NFO by, many NFOs are similar to funds that already exist. If the new fund is similar to existing funds, you are better off investing in the latter. Around 67% of the new launches in 2014 were closed-end products. Investing in the NFO of a closed-end fund is doubly risky. In case the fund's performance is lacklustre, a closed-end fund does not allow you to exit. Even though closed-end funds are listed on the stock...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now