How to Save Taxes?

Applicable Tax rate assuming highest Tax bracket + 15% Surcharge + 3% Cess.

The returns from your investments are subject to numerous Taxes like :

Short-Term Capital Gains

Long-Term Capital Gains

Income Tax as per your slab rate

So, your real return can be much lower post-Tax, especially if you take inflation into account too. 

GFS Expert Speak

A reader asked us : How do I plan my taxes right?

Here’s What The Expert Said :

Start by checking the Income Tax Slabs online. You can plan your tax-saving strategies accordingly.

Young investors should think about converting their salaries into investments for the future. Try tax-saving instrument like Equity-Linked Saving Scheme (ELSS) and Public Provident Fund (PPF).

Consider using a Systematic Investment Plan (SIP). This can help you beat inflation, grow a corpus, and save for retirement. A SIP involves depositing small amounts at regular intervals.

Most employers assist in individual tax-planning. They send out emails with detailed salary statements containing tax-related information. They also inform employees about tax-filling dates, procedures, tax-saving plans, and perks. While filling your taxes, provide your ELSS statements and Insurance Premium papers. You must also submit your Loan and Interest Statements, and PPF information.

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