KNOWING THESE 10 SECRETS WILL MAKE YOUR TAX SAVINGS INVESTOR LOOK AMAZING

 Tax planning, Tax compliance & Life Insurance. Let us guide you through the complexity with an efficient and effective strategy for your benefit! We also work with individuals needing Life insurance, whether it be Final Expense, Whole Life, Term, IUL, even if you want to have an Annuity, with our team of Life Insurance Brokers having licenses covering over 30 states & over 30 carriers, we work to make sure you can get the coverage you need.

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Tax Savings Investor

Investing in mutual funds is one of the easiest ways to save on taxes, as well as earn some extra money on the side. ELSS especially, is one of the most preferred investments to save on taxes. Besides offering tax exemptions under section 80C, the Equity Linked Savings Scheme also offers two more advantages: it provides investors with the dual benefit of capital appreciation or capital gain, and tax saving. This savings scheme also includes a three year lock-in period. Let's take a closer look at the tax-saving benefits of ELSS:

Tax Planning

Income Tax Benefit: With ELSS, investors can get a tax deduction of up to Rs. 1.50 lakhs under section 80C of the Income Tax Act of 1961.

Short Lock-In Period: The three year lock-in period of ELSS funds is much shorter than the lock-in periods demanded by other investment avenues like PPF or NSC under section 80C of the Income Tax Act.

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Tax-Free Dividends/Capital Gains: All dividends that are declared under ELSS are exempt from tax. When ELSS units are sold, the profits made from the sale are considered as long-term capital gains and are tax exempt.

Save On Taxes

Higher Return: In the case of ELSS funds, a large part of the fund is invested in equity. Equity has the potential to generate wealth in the long run, even though it is affected by short-term volatility.

Investing in an Equity Linked Savings Scheme is a great solution for certain types of investors. If you are an investor looking to generate wealth over a long period of time, then ELSS is a good investment for you. If you are looking to invest in something that will provide you with tax deductions under Section 80C, then ELSS is an investment that should definitely be considered. If you have an investment time horizon of three years or more, then you can consider investing in ELSS funds.

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When it comes to investing, an approach of investing in small amounts but at regular intervals is a much wiser strategy than investing a huge amount in one shot. This is why Systematic Investment Plans or SIPs are a good idea. SIP is a method of investing in which you can invest tiny amounts in mutual funds, at regular intervals.

Annuity

Usually, you can begin investing in an SIP with an initial amount of Rs. 5000. After that, the minimum investment amount in an Equity Linked Savings Scheme through a Systematic Investment Plan can be as little as Rs. 500. Also keep in mind that SIPs are a good choice as they are quite safe in a market that can be quite unpredictable. Remember, by investing in tax-saving funds, you can save up to Rs. 1.50 lakhs on your taxes! So make sure you get your investments in order!

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Tax Planning is often considered to be an annual activity, where at the end of a financial year, you plan your taxes and make investments to avail tax saving benefits. But, this is not how it should be done; Tax Planning is an ongoing process, which covers varied aspects especially related to different Investment options, which are not only an ideal way to avail Tax benefits but are earn profits for the same. Therefore, one should look at Taxation Planning not only as a way to reduce your tax liability but also as a means that could significantly contribute to your financial growth and prosperity.

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Strategic Tax Planning

The changing norms and provisions related to taxation process be it personal, corporate or any other type, has made Taxation of the most cumbersome topics of discussion. However, irrespective of the fact that you like it or not, but you can't ignore it. There are number of tools and factors, using which you can efficiently plan and strategize your tax saving investments to earn you maximum benefits.

Tax Saving

Best Tax Planning Tools

There are no two doubts about the fact that Public Provident Fund remains the unbeaten leader in the tax saving options. However, there has been gradual development of other tools which opens new avenues of financial benefits to the investor, diversifying the investment options along with reducing your tax liability. Some of the prominent ones are listed below:

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Public Provident Fund

PPF is an all-time favorite, because of the investment undertaken in this is eligible for deduction under the 1,00,000 limit of Section 80C, as well as on maturity, you pay absolutely no tax. The amount invested in this scheme is returned without any interest.

Life Insurance

Whenever we think of putting our money into any investment project, we first make sure that the project is proficient enough to provide maximum returns. Losing the hard-earned money is never acceptable, and this is the reason we sometimes hesitate to make investments. But, this is not the solution.

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Investments have the capability of changing our future and creating a fortune. Then why there is a need to skip the idea because of some doubts in mind? Instead, we should think about such alternatives which can promise the desiring results. The mutual fund is one of the best alternatives in this regard.

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Whole Life Insurance

What is the major risk associated with an investment project? The only answer is the market volatility, which affects the returns on our investments. And, the mutual fund has the best solution for the same. It is a programme in which the fund manager pools the monies of many investors and puts them into diversified investment schemes to reduce the associated risk.

Life Insurance Coverage

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