Finmission's Class

  1) 80C: Claim full tax deduction in 80C 1.5 Lakhs  ( use Term Insurance Plan, ELSS, PPF,  Sukanya Samridhi ) 80D Mediclaim 50K 80CCC NPS 50k  If you do not have funds then withdraw from existing investments & reinvest in tax-saving instruments  2) Book Profits in Shares and MF up to Rs 1 lakh:- Capital gains in Shares and MF is exempt up to Rs 1 lakh. So you can book profits and re buy without paying tax  Also book losses now to adjust against gains from other investments to save Tax 3) Rent: If paying rent to parents or friends Make Rent Agreement :- This is applicable for Next year starting from 1 April 2022 to claim HRA benefits 4) Life Insurance: Review your life Insurance based on income Your Insurance should be 10 time of your annual Income(  a thumb rule) Buy before your birthday to save on premium ( A minor tip) 5) Medical Insurance:  Review your Medical Insurance requirement for your- self and family each member should have minimum Rs 5 lakh – Max 50 lakh or Family floa

So what is SIP in Mutual Funds?   Systematic Investment Plan (SIP)  is an investment route offered by Mutual Funds wherein one can invest a fixed amount in a mutual fund scheme  at regular intervals– say once a month or once a quarter, instead of making a lump-sum investment. The installment amount could be as little as Rs 100 per month   . It’s convenient as you can give your bank standing instructions to debit the amount every month. Benefits of SIP:-  A  thought on Systematic Investment Plan: Treat your new SIP as your child.... Ezhil 👑 : 0-3 Years: SIP will have to be supported as like a baby it will be unstable, initially. You may see its value lower than the invested amount but keep supporting it by simply keeping it active...   3-10 Years: Just like a child, it will be more stable and you will see a rise in your investment. SIP would have accumulated some decent amount.    10-20 years: At this stage the child has developed a character, so has your SIP. Just as your