Trimming could be Taxing, Why not Save it!

Money saved is money earned

  • Understand financial needs for saving tax.
  • Calculate required investment.
  • Build confidence to save tax early.

Build your Save Tax Plan

Amount you want to save

Rs.

Saving Period in Years

Yrs

You will need Rs. 4,72,06,162 after 30 yrs.
You have about 30 yrs of time to plan for save tax.

Rs. 31,500

per month

Rs. 31,500

in a lumpsum

Plan your investment now!

Let us look at fine-tuning your investment strategy.
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Save Tax Planning Calculator

The planner takes into account all of your Save Tax and investment needs and plots them as milestones on your life line. How much should you invest Yearly or Monthly to Make Money? Calculate the Investment Amount using our Goal Planning Calculator.

What is Save Tax Planning?

Goal planning refers to setting financial goals and making plans to achieve them. Your financial goals can be short-term goals, medium-term goals, or long-term goals. If you want to achieve your goals. You need to understand your current financial status, and accordingly plan for your future goals. Goal planning helps you become financially secure and channelize your current financial investments in such a way that it generates returns over a time period which fulfills your goals.

What is a Save Tax Planning Calculator?

Goals are the priorities and targets you set for how you want to save money for the future. The goal planning calculator shows you the value of a future financial goal. It works on the future value concept. The calculator uses a formula, where you enter the current value of the goal, and when you require the amount and also considers the expected rate of inflation. Based on these parameters the financial goal calculator displays the future value of your goal.

Save Tax FAQs

What are the best tax-saving options available?

Popular tax-saving options include Equity Linked Savings Schemes (ELSS), Public Provident Fund (PPF), National Pension System (NPS), Life Insurance premiums, and tax-saving fixed deposits under Section 80C.

How does ELSS help in saving taxes?

ELSS is a type of mutual fund that offers tax benefits under Section 80C. It has a lock-in period of 3 years, and any returns from ELSS are tax-free under the long-term capital gains (LTCG) category for amounts up to Rs. 1 lakh annually.

What is the maximum deduction available under Section 80C?

Under Section 80C of the Income Tax Act, you can claim deductions of up to Rs. 1.5 lakh per financial year by investing in specified instruments like ELSS, PPF, life insurance premiums, and more.

Can I save tax on my health insurance premiums?

Yes, under Section 80D, you can claim tax deductions on health insurance premiums up to Rs. 25,000 for individuals and Rs. 50,000 for senior citizens. This also includes preventive health checkups up to Rs. 5,000 within the total limit.

Is there any tax benefit on home loan interest payments?

Yes, under Section 24, you can claim deductions of up to Rs. 2 lakh per year on the interest paid on a home loan for a self-occupied property. This helps in significantly reducing your taxable income.

Goal Summary

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