We just stepped into 2011 - 2012 Financial year and hence comes requirement to invest in some tax saving schemes. I found below are the areas we can invest for same -
Insurance
Pension Plans
Mutual Funds
Medical (covered by my company well enough)
Tax Saving schemes
and others
Can anyone please guide me which schemes I should choose - I have plans to invest @ 10,000 per month so a total of Rs 1,20,000 this year. Note that this amount goes off directly as part of my salary so I will not able to invest lump sum- however would love to hear options. Secondly, should I go for long / short term investment?
I also have PAN cards for my children. So should I make investment on their name? Can I avail tax benefit then too?
BTW what does housing loan benefits me on my tax calculation? I stay in a rented flat and have purchased another in the same town. So will I get a rebate on the principal amount paid to bank as EMI for a year (my concern is the flat I purchased and stay are in one location)
Thanks in advance
Insurance
Pension Plans
Mutual Funds
Medical (covered by my company well enough)
Tax Saving schemes
and others
Can anyone please guide me which schemes I should choose - I have plans to invest @ 10,000 per month so a total of Rs 1,20,000 this year. Note that this amount goes off directly as part of my salary so I will not able to invest lump sum- however would love to hear options. Secondly, should I go for long / short term investment?
I also have PAN cards for my children. So should I make investment on their name? Can I avail tax benefit then too?
BTW what does housing loan benefits me on my tax calculation? I stay in a rented flat and have purchased another in the same town. So will I get a rebate on the principal amount paid to bank as EMI for a year (my concern is the flat I purchased and stay are in one location)
Thanks in advance