Extra tax relief on Pension & Insurance Products
According to current rules all, all tax saving
schemes are clubbed together under the Rs 1 lac ceiling. Where in no special
offers are considered for pension and insurance products.
Now Finance Ministry is planning to offer upto
50000 extra on the tax relief only for insurance and pension products.
This is certainly going to be a breakthrough
where the dilemma in the market that one should buy an insurance policy for tax
rebate and not for long term savings & adequately insuring themselves.
My Note on this:-
- Get adequate insurance for yourself.
- Plan for your pension fund as early as possible.
- Considering Financial planning, or calculating adequate insurance for yourself, do cash capital need analysis or Human Life Value (depending upon the profession you choose).
- Before just giving cheques to agents think that you have a long term commitment with the organisation for investment.
- Check with their competence and knowledge.
ΓΌ
0 comments: