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With the advent of the December, the “tax birds” start to chirp loudly and slowly but surely, the common investor rises from his slumber. It is difficult to make wise investment decisions in December, more so in March. However, April is a very good time. Nonetheless, if you are planning to invest to claim tax deduction under section 80C, here are some wise things to do when you wake up. <br><br>http://www.capitalworx.in/financialfreedom<br>http://www.capitalworx.in/2016/12/22/investment-wisdom-section-80c-tax-deductible/
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INVESTMENT WISDOM UNDER SECTION 80C TAX PLANNING
DECEMBER The “tax birds” start to chirp loudly and slowly but surely Difficult to make wise investment decisions in December, more so in March
Planning to invest to claim tax deduction under section 80C Here are some WISE THINGS to do when you WAKE UP
1 DO YOU HAVE TERM INSURANCE?
TERM INSURANCE First “investment” Risk cover plan You won’t get anything if you survive the policy term Tax deductible expense
Gives you adequate risk coverage at a lower premium • Some companies also offer critical illness riders which are worth a look
2 DO YOU HAVE HEALTH INSURANCE
HEALTH INSURANCE Unexpected medical expenses Dent your financial planning Health insurance coverage helps
3 HAVE YOU INVESTED IN ELSS
EQUITY LINKED SAVINGS SCHEME Diversified mutual fund Tax benefit under section 80C Stay invested for 10 years+ Average returns from these schemes are much higher
Stay invested for 10 years or more to let the compounding factor to play out and benefit you • Most people are heavily invested in debt which includes bank deposits, NSC, PPF, EPF, etc.
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