AsthenewFinancialYearbegins,nowisthebesttimetosave.

Fromwaystoclaimmaximumtaxbenefitstovariousavenuesof
personalsavingsthatearnattractiveincometaxrebates,thisguidewillhelpyoumakeinformedchoices.
AsthenewFinancialYearbegins,nowisthebesttimetosave.Fromwaystoclaimmaximumtaxbenefitstovariousavenuesofpersonalsavingsthatearn
attractiveincometaxrebates,thisguidewillhelpyoumakeinformedchoices.

BePaisaWise
Howtoclaimtaxbenefits
foruptoRs.4,44,200

Nochangeintaxslabsfor
individualpayers

DuringhisBudgetspeech,
FinanceMinisterArunJaitley
saidanindividualtaxpayer
canclaimtaxbenefitsforup
toRs.4,44,200inaddition
tothetaxexemption.

Increasedexemptionlimitson
healthinsurancepremiumand
transportallowancewere
announcedintheUnionBudget
for2015.

Publicprovidentfund
Thisdependablesmallsavingschemeoffers8.7percentinterestper
annumandcomeswithalockinperiodof15years.Partwithdrawal
andloanisalsopossible.MaturityisalsoexemptedfromIT.

SukanyaSamriddhi
AsmallsavingsschemethroughIndiaPostforthewelfareofgirlchild,itpresentlyyeilds9.2
percentperannum.Beingalongtermcorpusfund,theamountmatureswhenthedaughter
turns21.Tillthen,youcanenjoyITexemptionunderSec.80(C).

EmployeeProvidentFund
TheEmployeeProvidentFundActislikelytobeamendedthisyear.Thebigchangeonthis

frontisthatthepensionoptionhasbeenwithdrawnfornewemployees.TheentireEPF
corpuswillbegivenatthetimeofretirementwithouttaxdeducations.

NationalPensionScheme
Budgethasgrantedanadditionaltaxdeductionof 50,000forinvestmentintheNew
PensionScheme.Sostarttosaveearly,forafinanciallyindependentpostretirementlife.

Homeloans
RepaymentofthePrincipalamountinentitledforincometaxrebateunderSection80(C).
TaxdeducationuptoamaximumofRs.2lakhcanbeavailedifthepropertyisselfoccupied.
Wholeinterestistaxdeductibleincasethepropertyisnotselfoccupied.

Insurance
PremiumspaidonULIP,pensionplans,endowmentandpuretermsareexemptedfromtax
uptoRs.1.5lakhunderSection80(C).

Health
UnderSection80(D)premiumspaidonhealthinsuranceforself,spouse,childrenaretax
deductibleuptoRs.35,000.AdditionalrebateofRs.20,000forseniorcitizendependent
parents.

SmallSavingSchemes
TheoncepopularKisanVikasPatraisbackthroughIndiaPost.Smallcontributionsin
demonimationsofRs.1000,5000,10,000and50,000,withnoupperceilingon
investment,willdoublein100months.

Keywords:Investments,savingschemes,FinanceYear201516