5 best tax saving instruments
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5 Best Tax Saving Instruments
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Transcript of 5 best tax saving instruments
5 Best Tax Saving Instruments
A perfect tax Saving scheme may not give the best returns, but the Tax it saves is enough to compensate for the lesser returns
Return
Features of
Perfect Tax
Saving
Scheme
The returns on Tax saving products should have minimum Tax
Tax Friendly
Should have lowest risk of principle Erosion in Long term
Low Risk
Should be Considerably Liquid or Loan can be taken against it
Liquid
Source- AdviseSure Research
Equity Linked Saving Scheme (ELSS) are Tax Saving Mutual Funds which invest in Equity Shares. They have a lock-in period of 3 years
About
Tax benefit under Section 80C of Indian Tax Act
High Returns of Equity Returns are also Tax free
Benefits
If Lump Sum – Rs. 5,000If SIP – Rs. 500
Minimum Investment
Axis Long Term Equity Fund (G) ICICI Pru RIGHT Fund (G) SBI Tax Advantage Sr-2 (G)
Top 3 Funds
01 ELSS- Tax
Saving
Mutual
Fund
Source- AdviseSure Research
Public Provident Fund is a Tax Saving scheme which provides tax savings and decent returns on investment
About
02 PPF
Investments upto Rs. 1.5 Lac are Tax Exempt
Loan and withdrawal option is also available depending upon the amount deposited
Benefits
Minimum Investment – Rs. 500Maximum Investment – Rs. 1.5 LacInvestment
8.70% with effect from 1st April 2013Interest Rate
Public
Provident
Fund
Source- AdviseSure Research
Term Insurance is life insurance, which is only for covering financial risk associated with the death of the person and not for investments
About
It helps protect your family against uncertainties of life by providing for their financial safety
The premium amount is also very low compared to other policies
It also provides Tax benefit on the premium paid
Benefits
Maximum amount allowed for Tax deduction is premium of Rs. 1.5 Lac
Allowable Amount
HDFC Life Click 2 Protect Plus Bajaj Allianz – iSecure Bharti Axa Term Plan - eProtect
Top 3 Term Insurance
03 Term
Insurance
Source- AdviseSure Research
Mediclaim policy that takes care of hospitalization expenses by reimbursing actual medical expenses
About
04 Mediclaim
Insurance
Cost of a Mediclaim is 0.5-2% of the total expenses that one would incur incase one is hospitalized
A deduction of Rs. 15,000 can be claimed every year
Benefits
Minimum Amount – Rs. 2,000Maximum Amount – Rs. 20,000
Allowable Amount
Star Family Health Optima Max Bupa Heartbeat Health Gold Apollo Munich Easy Health
Exclusive
Top 3 Medical Insurance
Source- AdviseSure Research
A fixed deposit is an instrumentprovided by banks which provides investors with a rate of return which is higher than a regular savings
About
Long Term Saving Decent rate of Interest varying
from 8-9.5 from Banks to Banks
Benefits
Maximum Tax Exempt amount has been increased to Rs. 1.5 Lac, however one can invest more in an FD every year
Investment
Bharat Co-operative Bank (9.5%) Lakshmi Vilas Bank (9.25%) Andhra Bank (9.1%)
Top 3 Funds
05 Bank FD
Tax Saving
Fixed Deposit
Source- AdviseSure Research
Advisory Fees Rs. 365 Per Annum
Customized advise only for you
Unlimited Long Term Investment Advise
Tax efficient portfolio design
No Minimum investment
Regular Review and Rebalancing
Substantial Savings in Commission ( Optional)
Customized , unbiased Wealth Management
@Rs. 1 per day
We Offer
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