Year end deductions
my husband is an entrepreneur with a small salary. What are the deductions he can avail before march 31st. We are ICICI customers. Can it be done online or he will have to go into a bank? more
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Aditi, you already got many responses here; I hope your husband would have availed the tax deductions by 31st March. There are various avenues available to save tax; within each avenues there are multiple options and each options may have further sub-options. With so many alternatives, sometimes it becomes confusing for a common man to choose a right alternative. Beginning of the financial year is the right time to review all your investments and current and future needs so that you can make adjustments in your portfolio wherever needed. Investment is not just a one time activity; it should be reviewed periodically to get better returns and also to align it to your changing needs. For further information please email ashok_pillai75@rediffmail.com more
Apr 03
You can have your husband invest in ELSS (Tax saver mutual funds) and some amount in PPF. It takes 5 days to open a PPF account. For next financial year he can start a sip for a min of RS. 500.00 per month in a ELSS. As per the returns for last 4-5 years Axis Mutual is the best with highest returns and the amount is tax free. For a PPf account deposit the money before 5th of the month so that you get the interest for the month. Apart from this you can invest in NSC or Tax saver fd. The interest earned on NSC and Tax saver FD is taxable. At the same time he must get the risk covered by opting for a Term insurance plan. For any policy I would recommend to opt for a online option it is much cheaper. If you need any more information please feel free to write a email @ damannagpal@yahoo. Com more
Mar 29
In my view please follow Mr. Santosh Hedge advice along with Mr. Shekhar K advice. Please take iProtect policy of ICICI Prudential LIC better directly online otherwise from ICICI Bank (maximum insurance for least premium with no return eligible under Section 80 C of IT Act). Also take any health/mediclaim policy under Section 80 (D) of IT Act immediately if his age permits either no medical test or medical test is done before 31 March, 16, if he is confident of good health with expectation of no positive reports on few critical tests. Here again your ICICI Bank can help by checking with ICICI Lombard for getting all formalities including medical test completed before 31 March. These three appear to be best advice, however the final decision is yours. more
Mar 28
We need to have more details. We can discuss and help you out in the limited time left before this FY. You can reach me on 9949090786 for a 30 mins free advice. more
Mar 28
