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EPF Vs PPF: Where Should You Invest Your Money? Both Employee Provident Fund and Public Provident Fund are secure long-term investment instruments, providing a big sum to individual investors at the time of retirement Updated: May 12, 2021 3:56 pm IST The rate of return is 8.5 per cent annually for EPF account and 7.1 per cent per annum for PPF Employee Provident Fund (EPF) and Public Provident Fund (PPF) are two long-term investment instruments that help in saving on income tax. The beauty of these instruments lies in their slow, steady and secure nature. It is very important for working...

Be an early bird to save on taxes Updated: Updated: The earlier the better it is for investing in tax-saving instruments Share Article The earlier the better it is for investing in tax-saving instruments You would be thinking, we just got over one tax ‘season’ viz. March 2021. Why talk of the next season right now? Well, the earlier the better. You get more time to plan, execute and revise your plan. It is a mindset that when we have a deadline for, say, submission of a form or filing a tax return, we take the last date as ‘the’ date for doing it. The fact is, time is up to the last...

Synopsis Before you start looking for tax-saving investment options, do a small exercise to determine how much you have already committed towards it. Once you have done this exercise, you will know how much investments/expenditure you have already made to save tax in FY 2020-21. Getty Images With the deadline to complete the tax-saving exercise inching closer (March 31, 2021), many will be in the midst of choosing tax-saving investment options to reduce their tax liability. There are various deductions available under the Income-tax Act, 1961 that can help an individual reduce his/her tax li...

Updated Mar 17, 2021 | 09:58 IST ELSS or tax saving mutual funds which provide the dual benefit of tax saving and wealth accumulation and come with a modest lock-in period of 3 years. Here are top plans by performance Top performing ELSS mutual funds ( by returns) to help you save tax this year  |  Photo Credit: BCCL The last date to make investments in order to save tax for the financial year 2020-21 is March 31, 2021. There are myriad tax-saving instruments for same but investors should not limit their choices to the safety of Public Provident Fund (PPF) a...

Updated Mar 17, 2021 | 06:02 IST The premium paid for health, term and life insurance is tax-deductible under various sections of the Income Tax Act, particularly 80C and 80D. Here's what you should know Paying insurance premiums covers risk and helps save taxes; here's how  |  Photo Credit: Thinkstock Building a safety net for healthcare needs has become a central part of investment planning as Covid-19 laid bare the risks associated with neglecting the same. Insurance is one avenue of tax planning which serves the dual benefit of reducing tax burden whil...