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THE LAST few months of the financial year is the period when investors try to ensure that they complete their tax savings investment requirements. The choice is about which instruments they should choose for their tax saving especially for those that fall under Section 80C because the Rs 1 lakh deduction limit here is quite significant.

Before they make a new list of which areas they need to focus on there is also a need for the individual to take a look at the existing areas where there is some investments already being made and whether this will be sufficient.

Often this is forgotten with the end result that the overall planning proceeds without a clear plan leading to waste of time and efforts.

EPF: One of the areas that constantly fall under the section that does not come to the attention of individuals is their Employees Provident Fund (EPF) account. The reason for this is not very difficult to understand as the amount here is deducted directly from the salary every month. In many cases the individual does not even know the actual figure that goes towards this area and hence they are unaware of how much is being accumulated in this area and what is actually happening to the amount that is being invested.

In several cases the situation is such that the amount deducted here is so significant that when this is combined with the other existing areas there would not be any need for further investments into tax savings instruments. A way in which the figure here should be known and brought into the overall calculations is by looking at the salary slip and then checking the total figure that accumulates at the end of the year. This could be a very significant total amount that would be helpful in the overall planning for the individual.

Other compulsory payments: There are several other obligations where the individual finds that they have to make some compulsory payments otherwise their benefits could come to an end. This would include areas like insurance policies where the amount has to be paid as premium for the required time period of several years otherwise the benefits on the policy would cease. This is the reason why taking an insurance policy is not a oneyear decision. Whenever this is done there is a need to look into the future and then plan ahead whether there is a chance that the future planning would get impacted. This need to be taken into consideration for the actual amount of tax saving investments that are actually done and hence this would present a better picture at the end of the day Planning for the balance: Once all these areas are taken into the calculation then the shortage of investments that still need to be done would be known.

This would throw up a certain figure that still would need to be completed and now the question of choice would arise in terms of the instruments like Public Provident Fund or National Savings Certificate or some other deposit or instrument. Those who can take risk can also look at Equity Linked Savings Schemes and hence none of the options are actually closed for an individual.

This is the reason why they need to be aware of the choices that they have.

Now the planning is crucial because they need to look at where the existing investments or amounts are going and then bring their goals into the picture.

This along with the asset allocation exposure would ensure that they are able to make the most out of the situation and then make the decision as to where to actually invest.

Happy Investing!!

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. ICICI Prudential Tax Plan Invest Online
2. HDFC TaxSaver Invest Online
3. DSP BlackRock Tax Saver Fund Invest Online
4. Reliance Tax Saver (ELSS) Fund Invest Online
5. Birla Sun Life Tax Relief '96 Invest Online
6. IDFC Tax Advantage (ELSS) Fund Invest Online
7. SBI Magnum Tax Gain Scheme 1993 Invest Online
8. Sundaram Tax Saver Invest Online
9. Edelweiss ELSS Invest Online

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Best Performing Mutual Funds

1. Largecap Funds Invest Online
1. DSP BlackRock Top 100 Fund
2. ICICI Prudential Focused Blue Chip Fund
3. Birla Sun Life Front Line Equity Fund
2. Large and Midcap Funds Invest Online

1. ICICI Prudential Dynamic Plan
2. HDFC Top 200 Fund
3. UTI Dividend Yield Fund
2. Mid and SmallCap Funds Invest Online

1. Reliance Equity Opportunities Fund
2. DSP BlackRock Small & Midcap Fund
3. Sundaram Select Midcap
4. IDFC Premier Equity Fund
3. Small and MicroCap Funds Invest Online

1. DSP BlackRock MicroCap Fund
4. Sector Funds Invest Online

1. Reliance Banking Fund
2. Reliance Banking Fund
5. Tax Saver MutualFunds Invest Online
1. ICICI Prudential Tax Plan
2. HDFC Taxsaver
3. DSP BlackRock Tax Saver Fund
4. Reliance Tax Saver (ELSS) Fund
6. Gold Mutual Funds Invest Online

1. Relaince Gold Savings Fund
2. ICICI Prudential Regular Gold Savings Fund
3. HDFC Gold Fund