What I s the best tax free investment for sr.citizens. returns may be 6-7%. There shall not be any tax liability.
Thanks for such a great post. Which product PPF or fixed deposit, should i choose for tax benefit? Please suggest.
the Pros and cons have been listed in the post. Its your money – make an educated choice!
Hi, which is the best avenue to park around 1.5 lac rupess for 16 months and get best return?
You can choose between Fixed Deposit (assured return but taxed at slab rate), debt mutual fund (comparable to FD returns and taxed at slab rate) or arbitrage mutual fund (slightly lower to FD rates but tax free returns).
In case you are in lower tax bracket go for Fixed Deposit and if higher tax bracket go for Arbitrage Funds.
I want to invest 1.5lac so please guide me for better option. Both in terms of tax saving and return as well.
I want to know whether tax saving FD can be breaked after 5 months or 1 year. If yes what will be the amount returned. For example If i invest 1lakh what will be the amount refunded.
The tax saving fixed deposit cannot be withdrawn prematurely. Only in cases where the deposit was made for more than 5 years, you can withdraw after completion of 5 years.
GM AMIT.. I would like to invest Rs.50000/- for Tax saving. Which one is best option. SBI Magnum mutual fund or FD in ICICI bank ?
ELSS (Tax saving mutual fund) and tax saving FD are at two extremes. The decision of what to invest depends on your risk taking ability, your present portfolio, usage of funds on maturity, investment duration among other things. ELSS are more volatile, may give you negative returns but is tax free on maturity. FD on the other hand have assured returns and is taxable. So choose wisely. I had compared all the tax saving options available u/s 80C in other post – it might help.
Both RBL and DHFL are good options. You should compare the features important to you. Opening & managing account with RBL would be easier than DHFL. Also check penalty for premature withdrawal in both cases. DHFL might have higher penalty. You can opt for either of the two or divide the money among the two depending on your comfort level.
Good. Keep it up. Right now this is the only site that updates comparative FD rates regularly.
Cooperative banks in general offer higher interest rates but are more risky. You should limit all your deposits to not more than Rs 1 lakh in each co-operative bank. As in case of any default you can get your money back from insurance.
I will be retiring from a pvt company . I will not get any pension. I would like to have monthly income. Can you pl suggest how I should invest so that I will get regular monthly income. Also how can I save tax. You can take example of Rs 1000000/- How it should be invested in various schemes to have a regular monthly income.
I had compiled a list of investments that can give you regular income. Have a look and choose according to your requirement and risk profile. Please let me know if you need further clarification.
I want to know that as an individual tax payer, what is the tax liability if i invest in debt mutual fund as an income generator.
Yon can look at the details of tax on equity and debt mutual fund in my earlier post. Hope it helps.