Plan Now for Best Tax Saving Investments

by RR Finance Marketing

Most of us think of tax saving in the month of March when it is the dead-line and you may take hurried decisions that may not be the best ones. It is always good to start early for tax saving so that you avoid stress and loss when it is time to file returns.

One of the most effective tax saving option is to use Equity-linked saving schemes, or ELSS, which are open-ended and diversified fund schemes of mutual funds.

This is a unique scheme that offers tax benefits under the section 80C of the Income Tax Act, which reduces your tax liability. You can avail a maximum deduction of Rs. 1.5 lakhs by investing into these funds during a financial year . This would help in saving tax of upto Rs. 46,350/- (if you fall in the highest income slab) during a financial year. These funds are very efficient tax saving investments with the least lock in period and a superior track record of performance,

Investing in tax saving funds online through SIP (Systematic Investment Plan) is the most convenient method adopted by all smart investors. Invest in top mutual funds scheme online using SIP and it will save you from last minute tax saving frustrations.