What this covers
Two related things: choosing tax-efficient instruments through the year rather than in a rush at the end of it, and getting your return filed correctly and on time.
Most people meet their tax-saving requirement in February and March, under time pressure, and end up with products chosen for the deduction rather than for the goal. Deciding in April instead means the same rupees can do two jobs at once.
Choosing between the two regimes
India operates two parallel income-tax regimes. The newer one has become the default and offers lower rates with very few deductions. The older one retains the familiar deductions but taxes at higher rates.
Neither is universally better. The right answer depends on your income, your home loan, your insurance premiums and how much you actually invest in eligible instruments. The only reliable method is to compute your liability under both for your own numbers, every year, since the thresholds are revised at each Budget.
Instruments commonly used
- ELSS funds — equity mutual funds with a three-year lock-in, the shortest among the traditional tax-saving options.
- Public Provident Fund — a long-dated government-backed scheme with a fifteen-year term and a quarterly-reset interest rate.
- National Pension System — a retirement account with an additional deduction available over and above the general limit, subject to conditions.
- Life and health insurance premiums, subject to the applicable sections and limits.
- Sukanya Samriddhi and Senior Citizens' Savings Scheme, where eligible.
Availability and limits differ by regime and are revised periodically. We will confirm the current position for your situation before recommending anything.
Return filing support
Assistance with collating capital-gains statements, interest income, and the documentation your return requires — particularly where mutual fund redemptions, multiple employers or foreign income are involved.
Please note
- Tax treatment depends on your individual circumstances and on the law in force in the relevant year.
- Crestforge Wealth is a distributor of financial products. Complex tax matters should be referred to a qualified chartered accountant, and we are happy to work alongside yours.