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Q. I am a government employee drawing over ₹50,000 in gross salary. I need suggestions on investing up to ₹10,000 a month with some tax-saving benefits
Ibnu Rahman
A. Before starting out on other investments, it may be good for you to build an emergency fund equal to about month’s worth of family expenses. This can be done through savings in a bank fixed deposit or post office deposit. This will be useful to handle emergencies you haven’t budgeted for. If you have dependent family members, get a pure term insurance policy to take care of them in your absence. Contributions to life insurance plans are eligible for tax exemptions under Sec. 80C of the Income Tax Act that allows you to claim tax exemptions on investments of up to ₹1.5 lakh made in select