Tax Saving Plan
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Tax Saving Plan

Tax Saving Plan
Investments come with multiple options, but which option is viable is a difficult question. All the options have their own pros and cons. It is important to choose a tax saving plan that will not just build the wealth but also make sure you have saved some money on taxes. There are plenty of investments that assure tax benefits, and you should go for such plans only.

Smart investors forum team gives out financial advices on selecting the right investment plan that offers tax benefits and savings. You will need to indulge in the best tax saving planner that will help you plan investments while befitting tax benefits.

Who Benefits from Tax Savings?
It is important to know who benefits from tax saving solutions before indulging in a tax saving plan. With the right plan, you can save up to Rs. 30,000 in taxes. A perfect investment plan will lower your tax paying slab by 1,00,000 thus deducting close to Rs. 30,900 in your taxable amount. Isn’t that perfectly great! This slab is deduced as per the income tax act 80C. So, most people who are in the taxable income slab can benefit from such plans.

Calculating your Savings
You need to provide the following details to calculate the amount of tax you will save with the right investment plan.
  • Age and Gender
  • Total taxable income
  • Premium payable for life in the investment plan
  • Premium towards health and pension plans
  • Gross and total tax deduction
With such details, the best tax saving planner will be able to deduce the amount you will save on taxes. Of course an education cess of 3% is applicable on the amount saved.

So, if you want advice on the best tax saving plans or the amount you can save, contact us online or offline.
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