The declaration of tax
The returns from such investments are likely to be minuscule or they may not be a worthwhile use of your money.
Tax planning is very strategic in nature and not like the last-minute fire fighting most of us do each year.
For most people, tax planning is akin to some kind of a burden that they want off their shoulders as soon as possible. As a result, whatever seems to save tax we blindly go for it.
What is really foolhardy is that saving tax has become a larger prerogative than the utilisation of your money.
So this year, letís give ourselves a choice. Letís think before we put down our investment declarations this time around. Like each year product manufacturers will be on a high note, enticing you to buy their products and save tax. As usual the market will be flooded by agents and brokers selling you solutions.
Here is a guide map to help you wade through the options and ensure that:
1. Tax is saved and that you claim the full benefit of your section 80C benefits.
2. Product are chosen based on their long-term merit.
3. Products are chosen in a manner such that multiple life goals can be fulfilled and they are in line with your future goals.
4. Products that you choose help you optimise returns while you
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