Are you submitting correct investment declaration to your employers?

March and the tax savings hassles just got over and you promised yourself that next year would not be same and you would do all the tax saving investments ahead of time. When I talk about the tax savings hassles it’s not just about choosing the investments but also falling short of money to make the investments as you near the month end and we all know the month end story.

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Tax Saving and Financial Goal Connect

"Taxes" File Folder

“Oh the 80C limit has increased. I’ll have to increase my investments to save tax”!!! This is the most talked about thing on office desks and dinner tables these days. Tax saving is something that most of us are very serious and concerned about and hence we do every possible thing to reduce tax liabilities to minimal. But what is it that you are buying for??? Are you buying it just to save tax or save tax and fulfill financial goals such as retirement, kids planning etc.? The answer is “we want to save tax and save for our future as well”. But the fact is most of us just end up investing recklessly in a hurry to save tax and hence the financial goal takes a backseat. This is the story of first three months of every year where there are people who are selling and people who are buying. Continue reading “Tax Saving and Financial Goal Connect”