Tax Saving Investments
Every person who earns more than prescribed limit has to pay tax thereon. Indian Tax system allows a number of tax deductions through investments. Deduction is an efficient way to save tax. This is why Investors always look for Investment Schemes which help them in generating tax free income along with saving tax with such investments. Thus, such schemes are known as Tax Saving Investments.
A Taxpayer shall be concerned not only with underpaying the tax but also overpaying the tax. Overpaying the tax can be resolved by inculcating the habit of tax saving.
Long term investments help to build wealth to meet financial goals. It acts as safety measure to meet financial needs post retirement or to payoff medical expense. Likewise, one can opt different investment plans for different purposes including children education, retirement benefits etc.