lucknow, Parag Kumar (Editor). As the new financial year has started it’s imperative to start tax planning as early as possible to regularise your investments and lessen the tax burdens. So follow these dos to avoid tax tensions –
A. Be the early bird- Planning of taxes right from the beginning offers several benefits like rupee cost averaging and disciplined investing.
B. Always think long term – Try to analyse which tax saving investment can fetch higher returns and less risks in the long run.
C. 80C instruments – Investments up-to Rs.1.5 lakh like in Equity linked saving scheme, Public Provident Fund, National Pension Scheme and Medical Insurance can help in saving tax under section 80C.
D. Spread investments- Always use 12 mths for an efficient tax planning as it allow us to lessen last minute burden on money instruments.
E. Order your Tax related instruments- Instruments are good for saving tax. But in order to claim deductions one need investment proofs.