Tax Saving Schemes - Mutual Funds
General Impression
We can’t let our hard-earned money go in vain. We don’t wish to give tax. That is a common thought in every earning individual’s mind. Of course, we know that is not how we must be reacting but at the same time we also are aware that “It is our duty”.
Let us calm down and learn a few ways to reduce the level of tax we have to pay. Every problem is meant to meet a solution. Let us meet our solution which is “TAX SAVING SCHEMES” presented to us by our governments.
There are more than ten- twenty of them but what I find best I would like to discuss. Or you can think what I am an expert at I would be dealing with that! My knowledge of Mutual Funds has attracted me from being a teacher to Mutual Funds Advisor. Realizing the missing connection between self-sustainable knowledge to self-protecting knowledge was a very difficult decision yet fascinating.
Investing in "LONG TERM IN LUMPSUM AMOUNT" is one of the best choices if one wishes to save tax. There may be a risk if one is opting for a short term but when one chooses to go for a longer duration it impacts your savings in a much more positive way. It not only stops your daily extra expenditure but also helps you in acquiring a secure future. From helping you to save your tax to gaining profits over a long time without your time consumption calculations ELSS proves to be the best.
The best what I found about Mutual Funds is that you have the choice of a locking period. It sounds risky to invest in an equity sector but one must also realise that the whole sum of money may be lost if you are not planning about it. With ELSS you can experience the same risk as you may face with a stock but with a better advisor shield, you may stay protected.
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LUVYA A VISION
Aakansha Sinha
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