Here's What You Need to Know To Save Taxes in 2017?

The tax saving season is here. Tax saving should be done throughout the year but many generally do it in the last two-three months. So, if you are planning tax savings for 2015/16, it will be helpful to know your options in service tax consultant in Delhi.

Investments against which you can claim tax deductions
All the following instruments are qualified for a deduction of up to Rs 1.5 lakh under Section 80C.

1)  Tax saving equity linked saving schemes: These are equity mutual funds which investment in stocks       and related instruments. These funds have a lock-in period of three years. If you want to save tax        as well as grow your money , tax saving mutual funds can a good option as equities have the                potential of delivering inflation-beating returns in Internal auditor in India.

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Mistakes to Avoid While Doing Tax Planning in 2017

One of the biggest investment errors we make during pressing times is to invest just to avail the tax deductions. Do not therefore make any investment just for the tax deduction. Tax planning is not about saving taxes but it is an important part of overall financial planning and should ideally be planned throughout the year in  service tax consultant in Delhi.

But unfortunately, we all consider it one time activity which we undertake generally in the last three months  of the  financial year without giving much thought on how it is going to impact our overall finances.  

" One of the biggest investment errors we make during pressing times is to invest just to avail the tax deductions. Do not therefore make any investment just for the tax deduction. There are only three months left for doing tax-saving investments for the year 2015/16. Most of you would have received emails from your human resource department to submit tax proofs. So, if you have not done your tax saving investments for the year yet, try not to commit the following mistakes in haste audit service in India.