(This article is meant for informational purposes only and must not be considered a substitute for advice provided by qualified professionals.)
If you wait to make tax-saving investments, you won't be able to fully profit from them.
The majority of people aren't even aware that their payments for many expenses are allowable deductions from taxes. They so fail to disclose these costs and wind up having to pay additional taxes.
You must pay taxes on interest earned on both Fds and NSCs. These products are therefore tax-inefficient.
Endowment plans by themselves won't yield very high returns if you invest a sizable portion of your hard-earned money in them.
An individual taxpayer may deduct up to Rs 1,50,000 in taxes under section 80. Many commoners don't avail of the benefit, and as a result, they frequently wind up paying more income taxes.