Tax Saving Plans In India And Registration Of Private Company

Indians generally goes for various schemes of investment to avoid paying taxes . These schemes are generally in form of investment in various funds , tax saving devices etc . There are some popular devices for investment to save the tax . Some of these devices are mentioned here .

Public provident fund is one of the popular methods under the sector 80 cc . The investment made under this plan not only saves income tax but also assures retirement fund . The interest rate under this fund is very high , at around 8.7 %. the investment under this plan can be made by everyone as the investment required initially is very low , as low as 500 rupees and maximum can be 150,000 rupees annually .

Equity linked saving scheme comes with lock in period of 3 years . Since these investment are made in stock markets there are fluctuations in the market , which affect the investment in this plan . If a person is not able to invest in the equity linked saving , then , the best option is bank deposit , which is fixed and is tax saving also . The tax benefits under this scheme come under 80 cc . The amount deposit under the tax saving schemes can be deducted from the income and thus the income for tax is reduced , which in turns reduces tax liability .

Senior citizens of India Income Tax Consultant in Gurgaon can go for saving scheme for seniors , which gives very high returns at 9 percent . This scheme is backed by the government of India and is a good option for senior citizens .

There are various insurance plans on which the premium paid comes under 80 cc provisions . In these scheme , the individual can avail the deduction up to 150,000 rupees . One can also invest in the schemes depending on the risk that investor is willing to make .

Insurance and tax saving devices together comes in ULIP . Here , one gets insurance along with tax saving instruments .

Company registration process Company registration consultant in Gurgaon for private company is been made simple now that many online companies are providing faster services . The once registration is over , the private limited company , can increase its borrowing capacity , can transfer its shares to any other person , and can acquire any property under its name . After registration , the company becomes legal entity under the Act . The company can keep property and incur debt.