Last minute tax planning

Planning for your taxes can be a daunting and cumbersome task. And some of you are scurrying to complete your last minute tax planning done. We help you to finalise your tax-saving investments in five steps. Step 1 Buy an adequate life insurance cover if you have financial dependents. The insurance premium qualifies for a tax deduction of up to ₹1.5 lakh under Section 80C of the Income Tax Act. Always buy a term insurance plan. Step 2 Buy a health insurance cover for you and family. The premium qualifies for a tax deduction of up to ₹25,000 (₹30,000 if you are

This article was originally published on January 08, 2018.