How much should I invest to save tax? Nishant Asnani, 14 Oct 2012

I am 28 and working in a private firm. My income comes under tax bracket and would like to know how much should I invest to save tax?

Fintotal Answer

Tax saving investments can be made in one or more of the list of 80 C deductions. You can save up to Rs 1 lac by investing in ELSS, ULIPS, PPF, EPF, NSC, NPS, pension plan and for repaying home loan principal, etc. Apart from the ‘investments’ you can save more income tax on certain expenses allowed under other sections. Some of these are health insurance premiums up to Rs 15,000, interest on education loan, up to Rs 40,000 on treatment on specified diseases, to name some. You can view the entire list at Tax Rebate

Dont invest in any product just for the sake of saving tax. Invest according to your goals. Consider Tax Saving as just an additional benefit.

furiabhavesh, 18 Sep 2013

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