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intelligent tax planning : Tax Planning
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intelligent tax planning

Discuss how to save taxes by making the right investments


intelligent tax planning

Postby Amisha » Thu May 29, 2008 4:24 pm

Tax planning is needed when the time comes to file our income returns. Those who are wise and prefer safer side, opt for early tax planning thatis with the beginning of new financial year which is actually good habit to go with...but there are also some lazy boons who wake up on one fine day (which is nearly last date to declare their investment under sec 80c) and run around to find the option or means available to invest in a area which helps tax exemption with investment...

I have habituated my self to tax planning to avoid last date hassles...ofcource we all learn it with experience only....so from last year onwards i have opted Monthly SIP in ELSS funds(TAX Exempted) option which relieves me from the tension of what to do now ? Where to Go? whom to consult ? and all that hasty decisions...

Well most of us know there are many other options are also available...like PPF, lumsum investment or SIP in mutual funds (ELSS), NSE, Pension plan etc...etc...
Amisha
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Re: intelligent tax planning

Postby madhavendra » Fri May 30, 2008 11:21 am

Dear Amisha,

Good to make the right move early.unfortunately most of the salaried class or business people tend to forget their mistakes that they have made last year by making a last minute rush for investment in tax saving instruments.Lot of Mutual Funds, Insurance agents flock in by January end to tax payers campaining their products and frightning them that the year is coming to an end.The ideal way for tax planning is like what you are doing now by understanding your investment needs,looking your liquidity position,risk appetite and expected returns.
The Goverment has given a list of tax saving instruments and a limit of 1,00,000 for making tax payers to 'save' for the future.When people postpone their expenditure from their Income,they have money left with them (known as Savings).This money with them is of no use to the society.But if such money is 'invested' in instruments like ELSS, Bank Deposits etc. then the money flow created helps in smooth functioning of the economy.Wherever Money is,it should be put to the best use.Youngesters ought to take risk in their early life and hence ELSS of a Good AMC is the right place to park their money in the list of Tax Saving Instruments.Happy investing!!!!!.....
madhavendra
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Re: intelligent tax planning

Postby MAHESH_69 » Wed Jul 09, 2008 4:50 pm

Dear Madhavendra and Amisha,

I sincerely agree with your points. I would also like to add that, a person who wants to start early tax planning should consider the following first:

(1) Buying a house to avail full tax benefits. If this is started early in life, things will become easy after 10 to 15 years of EMI and by the time you would have a valuable asset. As your CTC increases over the time, you can avail top up loans which can also be used for tax benefits.

(2) Full life insurance cover for a reasonable amount since premium would be small when you are young.

(3) Mediclaim policies, covering you and your family.

Regards
MAHESH_69
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Re: intelligent tax planning

Postby madhavendra » Fri Jul 11, 2008 12:26 am

very true mahesh....! With simple yet powerful words, you have highlighted the overall needs of a person.
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Re: intelligent tax planning

Postby shreya » Wed Aug 11, 2010 4:48 pm

From this year (2010-2011) onwards, there is a new avenue to save tax.

Investment in long term infrastructure bonds will be exempt upto Rs. 20,000/- per annum.

These infrastructure bonds have a lock in of 10 years but will be listed on stock exchanges for trading.

The interest rate will be around 7.5% to 8% p.a.

Everyone should take advantage of this exemption to save taxes :)
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Re: intelligent tax planning

Postby Ramalingam K » Wed Aug 03, 2011 12:59 pm

ELSS stands out among the other tax saving options. But PPF is also a better tax saving option. So it depends on your overall asset allocation. If you are looking for debt component then you can go for PPF. If you are looking equity component then you can consider mutual fund ELSS.


Regards,
RAMALINGAM K. MBA, CFP,
CHIEF FINANCIAL PLANNER,
HOLISTIC INVESTMENT PLANNER PRIVATE LIMITED.
www.holisticinvestment.in
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Re: intelligent tax planning

Postby Ramalingam K » Wed Nov 23, 2011 4:00 pm

With proper tax planning you can reduce your tax liability; save more; invest better and become wealthier.

http://holisticinvestment.in/plan-your-taxes

Regards,
Ramalingam K, MBA,CFP,
Chief financial planner,
Holistic Investment Planner private limited,
www.holisticinvestment.in
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