Tax Planning Guide 2009-10

Tax Guide for Financial Year 2009-10

All you need to know to make the most of your Tax Saving Investments this year

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Tax Guide for Financial Year 2009-10

Index
Section 1: Small Steps to Tax Planning………………………..………3 Section 2: All you need to know about Section 80C…………………..7 Section 3: Life insurance: Forget the tax benefits ………………………...9 Section 4: Tax planning: The “assured return” way…………………. 12 Section 5: Tax planning with “market-linked” instruments…………...15 Section 6: And the other 80s…………………………………………18 Section 7: Tax benefits and home loans………………………………21 Section 8: Tax planning: the right way………………………………...25

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Tax Guide for Financial Year 2009-10

As we are at the start of the tax season for 2009-10, many of you would be beginning to plan to save tax. Those of you who are not – it is the time to start! PersonalFN brings to you this simple guide of various options available for individuals to plan and save tax.

Section 1: Small Steps to Tax Planning
As the financial year draws to a close, we all start feeling the heat and realise that yes, now we have to invest in order to save tax. Whilst investing with tax saving and tax planning in mind is the key, these investments must be part of a larger financial plan – to achieve certain life goals and protect capital. Unfortunately, tax planning decisions are taken at the eleventh hour with low planning and thus hamper the process of wealth creation over the long term. Ideally, you should commence your tax planning exercise well in advance, complementing it with your overall investment planning exercise. This will ensure that you select the tax saving instruments which will eventually help you to meet your goals. In order to get your thoughts moving, we have broken down the tax planning exercise into 3 simple steps: Step 1 - Compute the Gross Total... [continues]

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