Tax planning is very important. To reduce your tax liability you should invest in instruments that offer you an additional Rs. 1,50,000 tax benefit in addition to basic tax relief. Well, a life insurance policy offers you one such avenue to claim tax benefits and also offers you and your family protection against any unforeseen circumstances.
If you make your investments at the beginning of the year, and then take into account the tax deductible, you can easily decide your monthly and yearly expenses. It is clever to consider tax planning within the scope of your financial planning as neither one can be considered in isolation.
FAQs on Tax Benefits