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March 31 investment deadline: Rushing to invest in tax-saving instruments? Here's why it may not be a good idea

When an investor makes an investment to save income tax, the goal is to save income tax rather than long-term wealth creation – which should ideally be the key purpose of making an investment.

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tax saving instruments: March 31 is around the corner; don't invest just to save tax: Harshvardhan Roongta

Harshvardhan Roongta advises on tax-saving investments, emphasizing the importance of insurance coverage and evaluating product merit beyond tax benefits. He highlights key insurances and suggests considering ELSS for tax savings.

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ELSS equity MFs offer dual benefits of tax saving & wealth building. Here's how

Success in ELSS investment is primarily a function of time rather than timing, Gagrani said, advising investors to opt for a systematic investment plan (SIPs) in ELSS to mitigate the impact of market timing on long-term returns.

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tax saving tips: Opted for the old tax regime? Have you checked out these tax-saving instruments?

Preeti Khurana says: "Individuals should choose investment products based on their risk profile and investment horizon. Popular products under 80C include life insurance premium, ELSS, PPF, and ULIPs. Tax payers can switch from the old tax regime to the new tax regime at the beginning of the new financial year. Don't forget to claim tax benefits for health insurance and submitting reimbursement claims to reduce tax liability."

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Old tax regime continues to be favoured by 63% of taxpayers, says survey

In a recent survey, 63% of taxpayers clung to the old tax regime in India, while 74% of women showed more financial awareness than men by calculating their taxes under both regimes.

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10 financial strategies to look upon as we conclude 2023

The comprehensive strategies detailed for year-end financial planning can aid individuals in reaching their financial objectives.

Financial-goals , Budget-review , Wealth-accumulation , Tax-saving-instruments , Health-insurance-coverage , Financial-burdens , Financial-strategies-to-look-upon-as-we-conclude-2023 ,

Smart money moves: How to navigate life's milestones with savings and insurance

Accumulating a substantial savings fund is crucial for various life objectives, but it's equally important to have sufficient insurance coverage to protect against life's uncertainties.

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