Investing to save tax? Here's all the matter that matters

THE ECONOMIC TIMES Sat, Jan 25, 2020 | 11:49 AM IST Tax-saving guide

Best tax-saving options: Ranking of the top 10 instruments ET assessed 10 tax-saving instruments on 8 parameters. Find out how the different options scored this year. Why you should choose your tax saving options wisely Some tax saving instruments may not be suitable for young professionals. Here's why. Here's a quick comparison of interest rates on tax-saving debt investments But before you get down to choosing a tax saving investment you should probably first calculate how much you need to invest to save tax. Want to know how much you need to invest to save tax? Use this calculator to find out Depending on the kind savings or expenditures you incur, under sections 80C and 80CCD1b of the Income-Tax Act, you are eligible for certain tax deductions. Double benefit: Here are 6 tax saving investments with tax-exempt returns Here are 6 tax savers that will not only help you save tax but also help you earn tax-free income. Senior Citizens Savings Scheme saves tax, beats bank FDs: Here's all you need to know about it Backed by the government, the scheme offers capital protection, along with quarterly interest payment as a source of income. Looking at NPS for tax saving? Find out if the investment suits your financial profile If you are looking to invest in NPS merely to save tax, you need to weigh its pros and cons as it is more of a retirement focused investment. Investing in ELSS to save tax? Diversify to balance out fluctuating returns over 3 years Look at the portfolios of the ELSS schemes and ensure that the ones you have selected have varied allocation to different sectors and stocks. Tax-saving fixed deposits: 10 things you should know The interest earned is taxable as per the investor's tax bracket. The interest on deposits is payable on either monthly/quarterly basis or can be reinvested. Check these 7 tax savers before you invest again It's always better to plan your tax saving investments in advance than make the wrong moves at the fag end of the financial year.

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