Do your Tax Planning early and relax

Do your Tax Planning early and relax 1

The new financial year has began. Few weeks back many of us were scrambling to make last minute tax saving investment. This year save yourself from making impulsive tax saving decisions, plan ahead and relax. Here is what you should do for your Tax Planning for FY 2010-2011.

Tax Planning with Section 80C

Tax Planning with Section 80C 5

Tax planning entails making investments and contributions that help minimize the tax liability. Traditionally, most of us invest only instruments that provide tax saving benefit as aversion for taxes ranks as one of the most universal emotions. But, does this fit well with our overall financial planning goals?

Income Tax deduction simplified

Income Tax deduction simplified 6

Some one had once said “the best things in life are free, but sooner or later the government will find a way to tax them”. Over the past few years, the Government has steadily whittled down tax exemptions available to the common man. Thankfully, there are some still available that allow deductions from our gross income.