I am 55 years Now.I am a freelance consultant having annual income about 12 lacs.What investments should I choose for tax savings as my all policies / PPF have matured now.
Please advise.
Many thanks.
1. Extention or even re-opening of PPF would be good choice.
2. Still you can avail 80CCD1(b) upto 50K by NPS contribution.
3. Usual 80D, 80DD, 80G, 80 TTA etc can be chosen as and where applicable.
4. House loan interest deduction u/s. 24b, if any
5. Investment in Tax exempt Bonds of RBI.
6. As per risk appetite, can choose some track proven Mutual Fund equity oriented Balance funds.
Above all, your income falls under PGBP, so eligible for all the deductions of the business related expenses.
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