Jan 26, 2013
Income Tax 80C to 80CCG Save TAX 2012 13
With tax savings, Life Insurance purchase becomes an effective long term savings cum protection option. Maximum tax saving through Life Insurance is 30,900.
Health Insurance is a cost effective way to protect your family against medical exigencies. You can get Health Insurance for self, immediate family or parents. It can save you 10,815 on Income Tax.
Equity Linked Savings Scheme (ELSS)
ELSS is a category of Mutual Fund schemes that invest primarily in stocks and are eligible for Section 80C benefits. Here too, you can save up to 30,900 on Income Tax.
Tax Saver Fixed Deposits
Tax Saver Fixed Deposits is another investment option introduced by the Government of India. Investments in these up to 1 lakh can save you upto 30,900 in Income Tax.
Rajiv Gandhi Equity Savings Scheme (RGESS)
RGESS allows new retail investors to avail additional tax benefit (over and above Section 80C) on 25,000 for equity investment of 50,000. It can save you up to 5150 on Income Tax.