Is it possible to make a good portfolio within Rs 1 lakh, the existing limit for tax deduction?
Gaurav Mashruwala: The Rs 1 lakh limit is very less and gets exhausted by mandatory expenses. Just three things, contribution towards employee provident fund, children’s education and home loam, alone can account for Rs 1 lakh. Vijay Sinha: A sum of Rs 1 lakh is too less to make investments for the future. If someone has to secure his/her family and invest in insurance and also save for retirement days, it can’t be done within Rs 1 lakh. PPF and PF (Provident Fund) alone make up for Rs 1 lakh without including an insurance policy. And you can’t commit a bigger blunder than not buying an insurance policy. Are people opting for pension plans after they have been brought under the gambit of Rs 1 lakh limit of tax deduction? Vijay Sinha: Sale of pension plans has certainly increased, but not to the extent we thought it to would. A very small percentage of the country’s population will benefit from the government’s pension schemes. Therefore, people themselves have to plan and invest for re
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- Is it possible to make a good portfolio within Rs 1 lakh, the existing limit for tax deduction?
