At this juncture of financial crisis(especially bearish trend in share market), which is the suitable method of investment for salaried people for Income Tax purpose.
Kindly advise me
2 Replies
Juzer Sadikot
(CA - innovative solutions for Imports and Exports)
(1309 Points)
Replied 12 November 2008
Dear M.Rajkumar,
My openion is on below assumption.
1.) You are falling under 30% tax bracket.
2.) No deduction under Chapter VI-A is unabsorbed.
I think you shall invest in FMP (of more than 1 year tenure) as Tax incident on it will be only 10% flat.
Regards
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 12 November 2008
Take minimum risk in investment into equity of EOF funds. Keep your head cool. Do not shake off investment of good shares in a hurry. Good companies will always bounce back. Keep a mix of investments which should include Fied deposits, etc., in Nationalised banks.
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