The last minute tax saving guide 2017

capital gains tax saving guide investments - save taxes with mutual funds elss

For some reason, we love the last minute, the eleventh hour, the impending deadline.

This happens every year for your tax saving needs too. 2017 is no different.

Well, I would urge you to take the opportunity to learn as you do.

Here is a list of blog posts that you can use as your tax saving guide. You may also want to share it with anyone who may find it useful and earn some good karma.

#1 Save taxes smartly

This is a note written quite some time back. It points out that ultimate rush scene for saving tax last minute. It also mentions all the instruments one can use to save taxes smartly under various sections of the Income Tax Act such as 80C, 80D and others.

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Tax saving investments – Some warnings and ideas

capital gains tax saving guide investments - save taxes with mutual funds elss

Despite all the advice to the contrary, it is highly likely that you are one of those who will soon be scrambling around to make your tax saving investments. Because if you don’t, you will see deep cuts in your take home salary.

So, what should you do?

Don’t let your hard earned money suffer from tax cuts.  Make the most of the available time and exercise your options.

Here are some inputs about tax saving investments plus some warnings.

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3 last-minute tax saving tips 2016

3 last minute tax saving tips

The date today is March 30, 2016. Normally, it is expected that by this time the tax savings for the year would be done and over.

However, the reality is very different. Based on the emails and comments I have received, it seems that some of us are still far from it, desperately searching for “last-minute tax saving tips”.

In this desperate attempt to “do something“, wrong investment products are being invested into which can make your portfolio suffer for a very long time.

Why wrong? Because they are not understood. The ultimate goal that will be served by those investments is not considered. There is only one thing driving the decision now – save tax.

Read more: 15 point checklist to save taxes smartly

Here is an example. Manish, a Chartered Accountant, works in the taxation department of an MNC. It is a well paying job. Though working for a few years now, he has not been able to save any money so far, for various reasons. This year he decided to put some money to work. He told his father about it who got him to meet his insurance agent.

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Pension Plans: Wolf in sheep’s clothing?

pension plans

I started investing in HDFC Pension Champion from Year 2010 for sum of Rs 1,50,000 per annum. I have completed 5 years of investment and I see the returns as of today is @ 8.02%. I stopped investing from this financial year, as the returns are less than the normal FD rates. I am thinking to invest in Mutual funds instead of ULIP.

I understand from your previous articles that, if I wish to surrender the policy no taxes to be paid and no reversals of 80C deductions as the invested period was 5 years.

The above note is what a reader (I will call him Rajesh) sent to me recently.

I believe that you or someone you know also owns a pension plan. We have a few lessons to learn here. First, some basics.

What are pension plans and how do they work? – The Sheep’s clothing

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