Starting January, you will be running around to make investments in tax-saving instruments or collect proofs for such investments already made. Most of us are aware of the tax deductions available for premium paid for life insurance and pension plans, investments made in ELSS, PPF and EPF and principal repaid on a housing loan. However, there are many lesser known tax benefits … [Read more...] about 15 lesser known Income Tax Deductions
About the time of the year when you will receive your annual performance bonuses and salary hikes. I do not expect everyone to be happy with the outcome of the appraisal cycle. However, it cannot be denied you will have some excess cash in the form of bonus at the end of April or May. How do you plan to use this bonus amount? Do you plan to purchase the latest iPhone or a … [Read more...] about How to use your Annual Bonus effectively?
A few months, I had written a post on “Should you invest in NPS?” And it is a fairly popular post on the blog. However, if you go through the comments section of the post, it would appear as if the post was about “How do I invest in NPS?” or “How to maximize tax benefits from NPS?” Not many asked questions about merits and demerits of NPS. It appears very few really cared … [Read more...] about Don’t invest just to save taxes
Towards the end of the financial year, when you are running to meet your investment targets, it is common to make mistakes in selecting the right kind of investment products. And it is a common refrain. However, most of us are not aware that when it comes to tax-saving, even the mode of payment matters. In this post, I will two such tax deductions where mode of payment can … [Read more...] about Cash payment may not get you expected Tax Benefits