When it comes to investment, you must aware with all current
industry trends. In this post, PolicyBoss shares some important tax saving tips
for the year 2015. Each tip will definitely help every tax payer to save his
hard-earned money with effective investment planning strategy.
Life
Insurance policies offer best tax saving plan to help you save up to Rs...u/s
80C. You can also save tax u/s 80CCC, 80D and 80 DDD.
- Cut down your tax payments
Person can cut down all tax payments by taking benefit of
all exemptions as well as deductions. Also, ensure income-tax file for every
family member. To make more money, you have to work hard on proper investment
planning based on the modifications done by the Indian Government
associated to investment strategy.
- Planning for old age family members
It is advisable to tax saving
plans are separate independent income tax-file for your elder family
members. You can do it through gift offered by you to them. In fact, buying
online health insurance policy India for old age family members is also a good
idea to gain some tax benefits under Section 80D.
- Tax planning for children
In case of married children, create a separate income-tax
file for your daughter-in-law if not done. For unmarried and studying children,
create a separate income-tax file through gift. For a minor child, buy child
insurance online for long term perspective.
- Tax planning for couple
Industry experts suggest tax payers to create a separate
income-tax file of the spouse and take care of non-clubbing provisions.
Maximize tax deduction separately under section 80C for you and your spouse.
Make payment of health insurance premium for you and avail tax deduction.
- Investment in Term Insurance Plans
Those who buy online life insurance policies can avail tax
benefits under section 80C of the Income tax act, 1961. If you have a huge loan
for house, car or education loan for your child, then investment in term plans
is necessary.
[Source: http://blog.policyboss.com/investment-plans-in-india/top-five-best-tax-saving-tips-2015/]
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