Learn about three powerful tax-saving options that not only reduce your tax burden but also provide additional benefits. Discover how to optimize your finances and achieve long-term financial success.
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00:00 Here are three phases in which you can save tax last minute before the financial year
00:06 ends.
00:07 ELSS are mutual funds that allow you to invest in the stock market and claim tax deductions
00:12 of up to Rs 1.5 lakh.
00:15 You can invest in ELSS funds in a lump sum or through monthly systematic plans.
00:21 The Employee Provident Fund currently offers guaranteed returns of 8.1% per annum and is
00:26 tax-free on retirement if your annual income is less than Rs 2.5 lakh.
00:32 A health insurance policy gives you financial protection against medical emergencies as
00:36 well as tax deductions.
00:39 You can claim deductions for two different policies - for dependent parents, for yourself,
00:43 your spouse and your children.
00:46 For each group, the maximum deduction that can be claimed is Rs 30,000 if the policy
00:50 participants are under 60 or up to Rs 50,000 if they are over 60.
00:55 For more details click on the link in our bio.