Plan your Tax saving investments before returns would be taxable
How your investment made before April 2006, could help you earn tax free returns with the EET regime.It is always a good idea to spread your investments into tax saving instruments. But this year, you may have to rush in your investments as investments made in these schemes offer you tax benefit for long.Since the time union finance minister, P Chidambaram, made the proposal to tax the maturity amount in tax savings schemes, investors have been jittery. In fact, many investors postponed their investments into insurance policies and public p rov i d e n t fund on the grounds that the maturity a m o u n t might become taxable.
There is some good news for investors. The government has clarified that the new regime of EET (exempt exempt tax) would become applicable from the *next* financial year. That means if you already have invested in an insurance policy or a PPF, you will continue to enjoy the tax benefit on the maturity amount too.
That also means even the contributions made into policies picked up in the past would also enjoy tax benefit on maturity.
So, it is not a bad idea to make additional investments in a few tax savings products as it has been clarified that new tax rules would be applicable to policies which are purchased on or after April 1, next year.
For making your investment a well informed one, please do contact us at the below mentioned details-
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