The most popular tax-saving options available to individuals and HUFs in India are under Section 80C of the Income Tax Act. Section 80C includes various investments and expenses that can be used to claim deductions. The Section 80C limit is ₹1.5 lakh in a financial year, which means that you can use this entire amount to reduce your taxable income.
it is neccessary to search alternate of savings account because they give low interest rates.We all keep some cash in savings accounts for day-to-day expenses for liquidity and convenience. Now, with interest rates as low as 3.5-4 per cent, it is unwise to keep a large sum of money in savings accounts, as considering inflation, one is actually earning negative returns. That is why experts have started asking people to keep minimum cash in savings accounts and park the rest in better alternatives. “Ideally, 15 days to one month expenses are good enough for savings accounts, especially as there are instruments like credit cards for emergencies.”
Benefits of Investing in Life Insurance:
Provides financial security
You can opt for a bank loan
You can plan strategically to meet your short-term and long-term financial goals
Business owners have a chance of growing their business even in their absence
Offers tax benefits
Assures mental peace
Hi EveryOne, This post is for whom who has got his first salary and having lot of enthusiasm to spent...