Plan Your Tax Saving Investment Now

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Best Tax Saving Plan
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Plan Your Tax Saving Investment Now
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With just a few months to go for the end of the
financial year it is time that individuals pay
attention to their tax saving investments and
ensure that there is some action that they start
to take on the issue. This is significant
because it should not happen that there is the
last minute rush which puts a lot of pressure on
the individual and also results in a lot of
tension. Here are five reasons why a start is
needed today for the individual to concentrate on
their tax saving route. Allows equity
investments One of the features of investments
into equity is that these should not be in a lump
sum and hence need to be spread out over a period
of time.
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In case of a last minute rush it would not be
possible to spread it out as whatever is the
amount of investment that needs to be done would
have to be done in a single shot and hence would
not allow itself to be invested in equities.
There can be the equity option like the Equity
Linked Best Tax Saving Plan Savings Scheme which
can be chosen but the risk here would rise
significantly in a lumpsum investment and hence
the presence of time would ensure that the
amounts can be spread out and equity investments
become a viable investment route.More
choice The presence of several months ensures
that the investor can look at several options
that are present in front of them and then make
the required choice that will meet their needs.
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There is no need for them to actually ensure that
they choose only one out of the choices present
because they can plan according to what they
require and this would be reflected in the choice
that they end up making. It opens up additional
options rather than the usual insurance policies
or national savings certificates that one might
have chosen in case of a last minute rush. Less
financial pressure There is also a lesser
amount of financial pressure when the amounts are
spread out because they will not all come in the
month of March and hence the last few months of
the financial year will not be a crunch time.
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This is all the more important this year due to
the fact that the Section 80C limit has been
increased to Rs 1.5 lakh and hence there would
have to be additional investments that need to be
made this year which will put some element of
pressure if all of this is done at the end of the
financial year.Benefit in future years Such a
step of ensuring some planning at this period of
time could actually end up being a blessing for
several years in the future also as there might
be some elements where there is a recurring
payment that has to be made. In case of such
recurring investments the individual would be
spared all the payments coming in the month of
March. The spread out of the amount this year
would be followed in the
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future years too and this would mean that there
is some relief for a longer time period that is
actually visible.  Needs are met The goal of
any financial investment should be that they
should end up meeting the needs or goals that
have been set by an individual. Every effort
should ensure that the end results point in this
particular direction and hence the effective
planning since this month itself will give the
investor the chance to ensure that this is met.
The investor will be able to direct all his
efforts towards meeting his goals and the success
here would be significant for them as it would
mean relief on several additional fronts
too.Source http//www.moneycontrol.com/news/ta
x/plan-your-tax-saving-investments-now_1254046.htm
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