End of Financial / Fiscal year is round the corner again and as usual we are suppossed to complete the tax planning as well as the investments well before 31 st March 2009 .You need to think about tax investments if you taxable annual salary is more than 1.5 lakhs for males and 1.8lakhs for females. Here are few tips which should be kept in mind before investment in any products .
- Never invest the entire amount in a single product / bank.
- Check the past track on the product / bank.
- Never give cash to the agents , always prefer cheque instead in the of the organisation / bank.
- Compare all available bank / products before making any choice. (Can be done online too)
- Make sure the entire processing is completed atleast 1 week before 31 st march , as cheques proceeded after 31 st march will not be eligible for tax benefit.
- Always ask for the lock in period , this is the period before which u cannot get your money back.
- Make sure you dont only look at the rate of returns , consider all the factors before making a choice.
- Remember , Higher Returns - Higher Risks.
- Make sure you get back all the necessary reciepts too .
- If you need to submit any of your documents , make sure you sign it and mention the purpose for which you have given the document. (So that your details are not misused)
And regarding the various options for availing the benefit for section 80 c please refer my previous post. You can also pay your taxes online through the Income tax of India's official website. For you reference the income tax departments online payment is given below.
Feel free to write your queries . (Click the comment link below to post your query)
