Looking to save income tax but don’t know which financial instruments to invest in? Don’t worry, we have got you covered! Here’s a list of investment options that can help you save taxes this year.
Last-minute tax saving options you can explore
Tax planning is part of an individual s overall financial strategy,
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It is always advisable to plan your tax-saving investments at the beginning of the financial year. Tax planning is part of an individual s overall financial strategy, though many people keep such investments for the last minute.
If you are planning to do your tax-saving investments now it is important that you first ascertain how much you need to invest. Do consider investments and expenses such as employees provident fund, life insurance premium, tution fees, home loan principal repayment etc as you can claim a deduction of up to ₹1.5 lakh against these under Section 80C. After you have decided the amount, the next step is to choose the instrument to invest.