Good Investment Plan?

#1
Dear friends,
I am paying an income tax of Rs.23609/Yr. Please advice how I can invest/save money effectively & a plan for a good long-term investment.

My Yearly Income details is as under:
Yearly Gross Salary :629983
My Savings (LIC+PLI+NPS) :143892
Taxable Income : 486091
Other savings :60000
House exp : 180000
Balance : 240000
 

Atiker

Active member
#2
Dear friends,
I am paying an income tax of Rs.23609/Yr. Please advice how I can invest/save money effectively & a plan for a good long-term investment.

My Yearly Income details is as under:
Yearly Gross Salary :629983
My Savings (LIC+PLI+NPS) :143892
Taxable Income : 486091
Other savings :60000
House exp : 180000
Balance : 240000
What is PLI?
Exhaust your 80C first, which is 150k limit.
NPS is an extra 50k.

For 80C you can opt for
PPF - if risk averse.
or Tax Mutual Funds aka ELSS - if you are thinking of long term.
 
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