Skip to main content

Best ways to Save Tax





Tax payers are in a tearing hurry to make tax-saving investments before 31 March.

1 Invest in ELSS

Equity linked savings scheme (ELSS) funds do not require recurring payments. You do not have to pay in subsequent years if you realise that the fund does not suit your needs. Moreover, you can easily invest online if you are KYC-compliant. All you need to do is visit websites that track mutual funds. Identify the fund with the help of ratings given and log on to the selected fund house's portal to invest .You will have to register on the site by providing the information asked for and click on the `invest online' link. Next, select the scheme identified, choose its direct plan version and pay. The acknowledgement will serve as proof of investment.

Tax benefit: Exemptions up to `1.5 lakh under Section 80C Taxability on maturity: Exempt

2 Buy online term policies

Term insurance offers a large cover at a minuscule cost. Online term plans are also cheaper than physical term products. The buying process is simple and requires an hour. As the online process does away with the need for an agent, no part of your premium is directed towards commissions. Check the insurer's claim settlement record. To buy, visit the selected life insurer's portal and furnish personal information, nominee details, income level and so on. The process is completed with payment of premium, unless you have to undergo medical tests. The premium receipt will suffice to claim tax deductions.

Tax benefit: Exemptions up to `1.5 lakh under Section 80C Taxability on maturity: Exempt

3 Secure your health online

Several companies and aggregators facilitate purchase of health insurance policies online. Cases which do not require pre-policy medical check-up can be bought online in an hour. Typically, insurance seekers under 45 without any adverse health history do not need to go through medical tests. However, it's best to buy a health cover now to ensure that the entire process is completed before March 31 as those over 45 will have to wait till the policy is issued post-medical tests.

Tax benefit: Deductions up to `15,000 under Section 80D (`20,000 for senior citizens) Taxability on maturity: NA

4 Invest in a Tax Saver Bank Deposits

A popular instrument, it is simple to invest in one if you are registered for Internet banking. All you have to do is open a five-year tax-saver fixed deposit by transferring funds from your savings account. The FD receipt mailed to your account will serve as proof for claiming tax benefits. However, not all banks allow customers to open a tax-saver FD online, even though the facility is enabled for regular FDs.

Tax benefit: Exemptions up to `1.5 lakh under Section 80C Taxability on maturity: Interest earned is taxable

5 Opt for PPF and NPS

PPF is best-suited for those with a low risk appetite. You can open a PPF account with online facilities through some banks, but you will have to submit your application form and KYC proof in person at a branch. Subsequently, you can transfer funds online through your linked savings bank account. From the next financial year, NPS will offer an additional tax break of up to `50,000. Opening of the account still entails cumbersome paperwork and visits to points of presence authorised by the Pension Funds Regulatory and Development Authority.

Tax benefit: Exemptions up to `1.5 lakh under Section 80C Taxability on maturity: PPF Exempt; NPS Taxable

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1.ICICI Prudential Tax Plan

2.Reliance Tax Saver (ELSS) Fund

3.HDFC TaxSaver

4.DSP BlackRock Tax Saver Fund

5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.IDFC Tax Advantage (ELSS) Fund

9.Axis Tax Saver Fund

10.BNP Paribas Long Term Equity Fund

You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds

Invest in Tax Saver Mutual Funds Online -

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

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

Invest Mutual Funds Online

Invest Any Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

Popular posts from this blog

Mutual Fund Review: Taurus Tax Shield

    Taurus Tax Shield has seen a turnaround in performance since 2007, but still remains a volatile offering… The fund has seen a turnaround in its performance since 2007 and has delivered impressively during market rallies since then. The portfolio is also more diversified. It contained its downfall to an average level in 2008 but is still one of the most volatile offerings in this category. Bold investors can look at this fund.   Strategy The fund manager invests across the market capitalisation and sectors. The selection of stocks is made on the basis of long-term business prospects and value creation. Fund Insight Launched in March 1996, the fund was a laggard with just two annual outperformances. Concentrated stock bets and high exposure to mid and small caps led to it being hit harder during market downturns. The number of stocks in the portfolio never exceeded 20 and it was not rare to see the top 5 holdings account for around 60 per cent of the portfolio. After b...
Read more

Use Mutual Fund SWPs for getting fixed payments

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   Investors time withdrawals optimally to save on tax The systematic withdrawal plan, or SWP, could be called the lesser known cousin of the much talked about and publicised systematic investment plan (SIP). There's yet another cousin — the Systematic Transfer Plan ( STP ). In SIP, you invest a fixed sum of money at regular intervals (monthly/ quarterly) to buy some units of a mutual fund scheme. In SWP, as the name suggests, you do the opposite: You redeem some mutual fund units from your portfolio to get a fixed sum of money at regular intervals (monthly/quarterly/half year/yearly). In SIP, you get a higher numbers of units when the markets are down, and lesser in a buoyant market. In SWP, going by the product logic, you redeem higher number of units when the markets are do...
Read more

AXIS Long Term Equity Fund - The Best Tax Saver Fund for 2016

  AXIS Long Term Equity Fund - Invest Online   History:   The open ended mutual fund was launched on December 21 in the year 2009. It is benchmarked against BSE 200 and managed by the fund manager JINESH GOPANI. Initially the scheme was called as Axis tax saver fund but later it was renamed as Axis long term equity fund with effect from September 2, 2011. Nature of investment: As far as asset allocation is concerned, 97.52% of the stocks are equity and 0.02% is debt based. The primary focus of the fund is to invest in diversified equity stocks that have higher growth potential. Total asset size of the fund is in the tune of 4,996 CRORE as of June 30, 2015. Performance: The performance of the fund for one year, 3 years and 5 years are 23.6%, 29.9% and 19.1 respectively which are far greater than 6.4%, 14% and 5.6% benchmark figures. It has also preformed fairly well against SBI magnum Tax Gain (G) and HDFC tax saver (G). The growth comparison is enumerated below;                        ...
Read more

Health insurance guide - Part I

Insurance, by definition, is morbid. What if I die suddenly? What if my home caught fire? What if I had to undergo expensive medical treatment? What if something that I thought happened only to others befell me? Insurers, who work with large samples, calculate the probability of such an event and, hence, the possibility of them having to pay out a sum of money to mitigate, to the extent possible, the effects of that disaster. However, the possibility of you undergoing some kind of expensive medical treatment during your lifetime is far more likely than you dying suddenly or your house burning down. Given that costs at private healthcare facilities, where you are most likely to land up, is high, and, doubling every four years 10 months or so, the rest of your money life could easily go out of whack if you had to incur such expenses. Just 12 per cent of India's population is covered with some sort of health insurance. Pared to the bone, for a comparatively small price, health insu...
Read more

IDFC Classic Equity Fund

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   IDFC Classic Equity Fund IDFC Classic Equity is a large-cap equity fund which currently has assets under management worth Rs. 158.52 crore. It was launched in August 2005. The fund is benchmarked against the BSE-200 Index. Performance YTD 1-Year 3-Year 5-Year Since Inception IDFC Classic Equity 0.93 26.61 6.30 1.01 11.65 BSE 200 1.52 17.31 6.00 1.99 12.98 All figures in % as on January 31, 2013; Returns above one-year in CAGR terms ...
Read more
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