The Financial Year 2020-21 is about to come to an end. People who have not done their tax saving investments yet must complete it before 31st March 2021 to be eligible to claim tax deductions.
Although the government allows a person to make these tax saving investments anytime during the financial year, a majority of us tend to delay and rush only during the last week of March to complete these investments. Add to the fact that a lot of us are not even aware of the different ways in which one can efficiently save taxes. The complicated tax rules make the matter only worse. And it is this combined problem of last-minute rushing around and lack of awareness that most people end up making wrong decisions and invest in tax-saving products that are not good for their financial health.
However, with the evolution of technology and introduction of digital personal finance platforms, information is now freely and easily available that can enable common people to make informed decisions. Take the case of ETMONEY app. The app uses intelligent technology to give personalized recommendations of the best tax saving options available to a person and then also help to invest in those options via the app itself. Using this Tax Maximiser feature available on the ETMONEY app, a person can easily save up to Rs.78,000 in taxes that too in a manner which is also good for their financial health.
ETMONEY App Helps Save Maximum Tax of up to Rs. 78,000
ETMONEY is India’s leading personal finance platform that helps a person achieve the twin objectives of maximizing tax saving and improving one’s finances.
On the ETMONEY app, by entering just a few basic details like age, income levels, and the tax saving investments already done, a person can automatically get a personalized tax saving plan with options including:
- Section 80C investments like. ELSS Mutual Funds, Term Insurance etc.
- Tax Saving under Section 80D with Health Insurance,
- Tax saving under Sec80CCD with the National Pension System (NPS) that provides additional tax saving over and above the Sec 80C limit.
ETMONEY helps better your finances along with Tax Saving
The ETMONEY App not only helps you save up to Rs. 78,000 in taxes every year but also helps you choose the right investment products in a manner that makes you financially fitter.
Based on your income levels and the investments already done, its intelligent technology comes up with the most suited products for your financial needs. The options you get on the ETMONEY app includes ELSS Mutual Funds & Insurances (Health and Term) and the National Pension System (NPS).
These options are not just great for tax saving of up to Rs. 78,000 every year but are perfect for your finances in general as well. ELSS funds, as we all know, have the shortest lock-in period among all tax saving investments of just 3 years. These funds also have the potential to generate maximum returns over the long term compared to other options like Bank FDs and PF. Term Insurance and Health Insurance are must have plans that provides the protection that we all need. Apart from securing our present and future they also help in tax-saving. National Pension System is perhaps the best option for retirement planning that also helps with additional tax savings. All these are great options for saving taxes, and the amount you need to invest in each is automatically shown by the app.
And if you have been wondering how to get started, the app is super easy for one to begin. Anyone can create their account online, in a few taps, without any paperwork. The added layer of bank security makes your payments safe and secure. And its not just the start, but post the investment, one can track and manage all their investments at one place with ease. The receipts for the tax saving investments, that are required to submitted for tax deductions, can be generated easily in a single tap.
Apart from Tax saving financial products, the ETMONEY App also facilitates investments in other financial products like Fixed Deposits, Gold Deposit etc. And the best part about making all mutual fund investments via the ETMONEY is that these investments are made in Direct Plans (which are commission free) and not in Regular Plans (wherein the app facilitating these investments) earns commission.
Thus, the ETMONEY App is a comprehensive financial app which not only helps in saving taxes but also helps in wealth maximization with ease and convenience. Download the ETMONEY App today