Tax, a three letters small word which is big enough to bring anxiety lines on your forehead. Isn’t it? If you are a person whose income is taxable, then there isn’t a reason why you wouldn’t be trying to save it. There are ample of tax saving plans available in the market today that can help any person in saving the hard earned money. One call and click and your work will be done. In this fast, competitive, and advanced world, anything is possible. But when it comes to selecting the right option, it might make things appear complex to you. But is it really? The first step is to calculate tax which is to be payed. If you are capable enough to calculate it, well and good. But if not, Tax Calculator is the answer.
Today, mostly every individual uses calculator to calculate for different reasons. Tax calculator is different from this regular numeric calculator, as it has been specially designed to help people calculate tax. To use it, log on to MySIPonline and get started.
How To Use Tax Calculator on MySIPonline?
Once you open Tax Calculator, select the age range in M/F/Senior Citizen, enter the residential status in the next tab, followed by annual income and deductions that you are eligible for. When you will press enter, entire tax summary will be displayed in front of you. That’s it! Don’t you think it is really simple?
Why Should You Use Tax Calculator?
It provides you with accurate and authentic answers regarding tax, which you were looking for, through calculations done from the comfort of your very own place, i.e., you need not take help from a Chartered Accountant or any other financial expert to make calculations for you as it helps you do it on your own. As the procedure has been simplified, it thus helps you in saving time, energy, and money at the same time.
Best Tax Saving Option!
In the beginning, we talked about selecting the best tax saving option, now that you know how to calculate tax, lets get familiar with it. All the tax saving options such as PPF, Tax saving FDs, etc., that people invest in not only provide nominal rate of returns but also involve low risk. There is one more option in the form of ELSS which is a mutual fund investment option. ELSS or Equity Linked Savings Scheme is a category that includes tax saving schemes which provide tax benefit under Section 80C of the Income Tax Act. These schemes have the lowest lock-in period of three years compared to the traditional options and provide good returns at the same time. So, if you are looking for a scheme or want to add an additional plan to your portfolio to earn well and save tax at the same time, then a reliable scheme under this category is the best option.
Start calculating and saving tax now with the help of tax calculator, and select schemes under ELSS category on MySIPonline to invest in.