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One should diversify into various tax-saving instruments according to his/her age, needs, goals and risk-appetite. Here we give you an insight into the various avenues available to save your taxes and also the various asset allocations for different life stages.These investments have been specially put into an asset allocation based on specific Life Stage - and the risk and return that can be assumed during that Life Sage.
A single person can take high risk as he is young and has no dependents.
Further, there is no need of insurance in the case of a single, as he does not
have any dependents. Based on your life stage, an ideal asset allocation has
been designed for you to invest in various avenues Under Section 80C of the
Income Tax Act 1961.
|
| Investment Avenues (Sec 80C) |
Amount to be invested (Rs) |
| ELSS (Equity Linked Saving Scheme) |
80000 |
| ULPP (Unit Linked Pension Plans) |
15000 |
| PPF (Public Provident Fund) |
5000 |
| Total |
100000 |
| Section 80D |
|
| Health Insurance |
15000 |
This is an indicative allocation for the Rs 1 lakh limit under Section 80C. If
you already have some investments under this section, the remaining amount can
be invested in the ratio mentioned above.
Health Insurance - Section 80D
Avail a full utilisation of tax benefits on premium of Rs 15000 under
Section 80D of the Income Tax Act, 1961. Section 80D benefit
remains over and above Rs.1 lakh benefit of 80C.
For e.g. A premium of Rs. 15,000 is fully deductible under Section 80D of
the Income Tax Act. You would save Rs. 5099 on your tax payable.
We hope that the information would be useful for your Tax Planning.
For any help with your investments please walk in to any ICICIdirect store,
where our Relationship Managers will be glad to assist you.
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Tax Saving Investment Products
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Disclaimer:
ICICI Securites Ltd. , Member of National
Stock Exchange of India Ltd., SEBI Regn. No. INB 230773037 (CM), SEBI Regn. No.
INF 230773037 (F&O), Bombay Stock Exchange Ltd., SEBI Regn. No.
INB011286854 (CM) , SEBI Regn No. INF010773035 (F&O). AMFI Regn. No.:
ARN-0845 , Corporate Agent of ICICI Prudential & ICICI Lombard,
Composite Corporate Agent License No. 2613930 . Registered office: ICICI
Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020. Coporate Office : Shree
Sawan Knowledge Park, Plot No. D-507, T.T.C. Industrial Area, MIDC, Turbhe,
Navi Mumbai - 400705. The online services of I-Sec are offered through
www.icicidirect.com
.
The contents herein above shall not be considered as an invitation or
persuasion to trade or invest.Kindly read the Risk disclosure document
carefully before investing in securities and other instruments traded on the
stock exchanges. and Pl note that Mutual Fund Investments are subject to
market risks, read the offer document carefully before investing for full
understanding and detail. Insurance is the subject matter of solicitation.ICICI
Securities Ltd.does not underwrite the risk or acts as an insurer.
Adequate efforts have been taken to ensure that material contained is error
free. The material given is only intended to provide general information to the
investors and is neither designed nor intended to be a substitute for
professional tax advice. The material is not exhaustive and is not intended to
be advice on any particular matter. Individuals should cross check a ll the
facts, law and contents with the text of the prevailing statutes or seek
appropriate professional advice before acting on the basis of any information
contained herein as the taxation implications may vary depending upon the facts
in each case and the tax laws are subject to change from time to time. ICICI
Securities Ltd expressly disclaims any liability to any person,in respect of
anything done or omitted to be done by any such person by placing reliance upon
the contents of this presentation.
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