When March comes, it is time for exams for the children, but there is another big task that we need to keep in mind especially if you are working or self employed.
Do you file your returns ? If you do then please see that the papers are kept in check.
I have seen cases when I find that people are so casual about their finances that they wake up at the nth hour. What’s new ? Are we not always running around to do last minute things ?
But still there are 3 weeks to solve so many issues. Have you done your tax planning ?
Have you invested in tax saving instruments to avail of Section 80c benefit which is now upto Rs 150000 ?
If not there is time, to either buy an insurance policy, invest in tax saving Mutual Fund called ELSS or Equity Linked Savings Scheme, Post Office Schemes or your Employee Provident Fund (EPF) or Public Provident Fund (PPF). You have such a large basket to choose from or a combination of all.
Please keep the copies or updates of all the investments made as supporting documents to avail of the tax benefits.
Don’t forget to take benefit of any medical premium you maybe paying for your self or for your family.
This can be done wef April also but still not too late….you will still get the benefit.
Not to forget to pay your Advance Tax before March 15th…..
More later….
Cheers
money2wealth 