I am a software developer. Kindly suggest me some investment options wherein this amount is exempted from taxable income. Also, after investment the income arising out of the same is also relieved from tax (it is **not mandatory** requirement).
I have already invested in PPF and NSC and have taken LIC policies of long terms. I am looking for making investment wherein the amount is not locked for a longer duration and also at the maturity the tax burden should be minmum. I am not interested in making investment to equity market so please dont suggest me MFs which purely invest in equity market. Mutual fund investing in other than equity market yielding moderate rate of returns (somewhere around 10%-12%) would do.
If you have any other suggestion, kindly share it with me so that it helps me in making decisions.
2006-11-07 19:00:22 · 7 answers · asked by girishjjain 2 in Business & Finance ➔ Taxes ➔ India
with your kind of requirements, i would suggest investing in tax saving debt- like the IDBI Suvidha tax gain. 8% return, 5 years lock in, taxable. this is assuming you dont want to put any further amounts in NSC, PPF or ELSS( tax saving MFs). infrastructure funds are really not giving the returns as of now- there is no use investing in them.
a word of advice though. had i been in your place, i would have waited for the market to cool 0ff slightly and parked the 25 grands in a tax saving mutual fund to get higher returns. the risk is there, but i have full faith that the return in 3 years from these funds will beat the return from debt or any other source even after tax.
2006-11-07 19:22:46 · answer #1 · answered by vagarant 2 · 0⤊ 0⤋
Dear why dont you take a house building loan.
because principle amount which you will pay will come in 80ccc which will help you to touch 100000 cap.
And the interest paid will be deducted from your income according to the section 24.
Elsu you can invest in 3 years MF also which will give you desired return.
Else go for insurance for 3 years premium of Rs 25000.00 at the end of 4th year you can take it out.
I am not telling you to invest in PPF because of the lockin.
You can invest in government securities also which will give you return of 8%.
Thats all you have to reach 100000 cap.
cheers
2006-11-07 19:46:42 · answer #2 · answered by Subhrangshu m 3 · 0⤊ 0⤋
ELSS , those are mutual money with 3 3 hundred and sixty 5 days lock-in era . this is often a greater physically powerful determination than ulip .An addition you need to do is for scientific coverage , a minimum of for 2 lacs . If married than mediclaim for ur spouse and there is something called term coverage from LIC , this is maximum suitable as a threat conceal .
2016-10-15 12:37:30 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Keeping in mind your requirements, the best possible solution for you is you have to deposit the amount in a Nationalised Bank in a fixed deposit- lock in 5 yrs & taxable int - 8 to 10% . Pls make sure to ask them that the FD qualifies for deduction under section "80 C".
GOOD LUCK
2006-11-07 19:51:24 · answer #4 · answered by Raj 1 · 0⤊ 0⤋
Invest Rs.1,00,000/- in SBI Magnum Taxgain Fund.
2006-11-07 22:18:02 · answer #5 · answered by aramaiya 3 · 0⤊ 0⤋
insurance,ppf,mf and infrastucture bonds
2006-11-07 19:06:39 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Donate to any orphanage ----you can save Tax!!!
2006-11-07 19:07:12 · answer #7 · answered by NUPAKRY 6 · 0⤊ 0⤋