Gear up your tax planning with mutual funds. Smart tax saving tips and recommendations
Tax planning has changed radically over a period of time. Since its time for filling income tax returns for 2007-2008 as the end date (31st march 08) is approaching. As a tax payer you need to understand the best way through which you can make use of the exemptions provided by the government. Earlier people had limited choice of tax saving instruments to be used for the purpose of tax planning. But now with the ELSS (Equity Linked Saving Schemes) launched by most of the mutual fund companies, the whole approach towards tax saving has changed. With mutual funds tax planning had become more important part of over all investment planning. With equity linked saving schemes the tax exemptions can be used in a manner such that you not just disciple your investments but also create good corpus through equity investment.
Tax planning for resident Indians
We recommend tax saving funds, also referred to as Equity-Linked Saving Schemes (ELSS). One such reason is that their benefits are too much to ignore as they hold almost all the benefits of an equity mutual fund.
For one,...
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