Avoiding the last-minute rush during income tax filing by planning ahead can lead to more optimal and stress-free choices.
This approach is equally crucial for working women, ensuring a well-organized financial journey with long-term benefits.
Understanding Tax Obligations for Women
Even housewives may need to file an income tax return if their earnings exceed the basic exemption limit.
Familiarizing oneself with income tax slabs helps in better planning and maximizing savings potential.
Exploring Tax-Saving Investment Options
Sukanya Samriddhi Yojana: Empowering Your Daughter’s Future
This government-backed scheme is tailored for the girl child, offering tax benefits under Section 10 (11A) and deductions under Section 80C.
Investments in this scheme provide a secure way to save for education and marriage expenses.
National Savings Certificate: A Reliable Investment Avenue
Available at post offices, the National Savings Certificate offers guaranteed returns and tax benefits under Section 80C.
With a minimum deposit requirement and an attractive interest rate, it provides a safe investment option.
Public Provident Fund: Ensuring Long-Term Financial Stability
The PPF allows for long-term investments with tax benefits under Section 80C.
With a low minimum deposit and a maximum annual contribution limit, it offers a secure way to build a substantial corpus over time.
Insurance: Protecting Loved Ones while Saving Taxes
Life insurance policies offer tax benefits for women, providing protection for themselves, their spouse, or their child.
Under Section 80U, deductions can be availed, making insurance not only a protective measure but also a smart tax-saving tool.
