Money Magazine ( Money logs )

One way of easily saving all that loose change that you have had at the bottom of your bag or wallet is by investing in the small saving schemes. Relatively easy and much cheaper than the premiums you will pay for higher insurance and savings, small saving schemes are used by all. Starting from just Rs.10 and with a maximum limit in six digits, you can pay a premium that you can afford. Although you have good investment and savings opportunities available in different banks now, it is crucial to still have a small savings scheme for the save and secure investment along with good returns. There are many taxation benefits on the different type of small savings schemes that are available. Check them out to make an informed decision:

Knowing how much of the income tax you have to pay for previous financial year can help you a lot with managing your finances better. For everyone who pays income tax, it’s absolutely a must thing to know how income tax they pay is calculated.

At the end of every financial year, many tax payers frantically make investments to minimize taxes, without adequate knowledge of the various available options. The Income Tax Act offers many more incentives and allowances, apart from the popular 80C, which could reduce tax liability substantially for the salaried individuals. Here are seven smart tips to help you save more and reduce taxes.