4 Things to Consider Before Making Tax Saving Investments
Something as important as your tax-saving investments should not be made on ad hoc basis without keeping a certain goal in the forefront. However, most of us have this bad habit of not even starting up before the company pushes those final calls for the submission of investment proofs. To make the Best Tax Saving Investments , you need to base your decision on the following four important factors besides choosing a suitable tax-saving instrument which can aptly link with your specific goals. 1. Deduction Limit: As per section 80C, you are allowed deduction of up to 1.5 lac per annum one or more specified group of investments/expenses on your total gross income. The investments which can be covered under 80C include:- mutual funds life insurance policies public provident fund ELSS National saving certificate etc. While the expenses on which you can avail the tax saving benefits include the following: Kids tuitio...