looking for more of a conservative approach.
I am a 28 year male with a CTC of 12.5 lakhs and I was hoping you can help me with use of a case study on what the best investments could I make to save maximum taxes based on the latest budget recommendations. I already have a housing loan with an exemption of 1.5 lakh. Besides this I have no other investments to save taxes..I have no children and dependants as well..I was hoping in having a mix of Public PF, Postal savings, some insurance covers, medical insurance etc which would help me in saving the maximum taxes for the upcoming financial year. My whole agenda is to invest amounts that I would otherwise pay as taxes rather than investing anything from my pocket 🙂 I would appreciate if anyone could give me actual breakup of the amounts I need to invest to save taxes. Thanks in Advance..
plz, give with examples
Both the loans have floating interest rates. I have planned to pre pay the car loan first , within about 10months. I will surrender some of my LIC money back &endowment policies for this purpose. Thereafter I will have a sum of 90000/year (save on EMI) to invest , plus save on the interest payable for car loan.
Am I on the right track?
Where & how to invest the sum of 90000?
I earn 3 lakh per annum. and i wanted to invest it wisely to get a better return in minimum possible time. please advice me both the ways.. that is , with or with out tax benefits.
Other than property investments.
1.5 lacs is the part of my savings that i have made all along from my salaries.
say for about 5 years, so that i dont have to withdraw in between ??
do the investment i mean
I what to know the amt that I will get after deducton of PPF and all such things…….!