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How to Save Income Tax || Best Tax Saving Mutual funds 2019 || My Interview in SumanTV | Money Purse
Takeaway
Plan tax in April not March; ELSS funds with 13-15% historical returns beat traditional 80C options — use SIP mode aligned with financial goals.
Summary
- Tax planning should start at year beginning April, not panic at Feb-March when wrong products get bought.
- 2019 slabs: 2.5L exempt, 5% up to 5L, 20% to 10L, 30% above; senior citizens 3L threshold, super seniors 5L; 4% education cess; surcharge 10% above 50L, 15% above 1cr.
- Section 80C (Rs 1.5L limit) options: EPF, school tuition fees, life insurance, PPF, NSC, traditional insurance (6-8% returns), ELSS mutual funds.
- Section 80D: Rs 25K health insurance for self + Rs 5K medical check-up; additional Rs 25K for senior parents.
- ELSS mutual funds give 13-15% historical returns vs PPF 8%, tax FD 7-8%; recommends SIP-based ELSS aligned with financial goals.
80CELSStax planning
Original description
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