A well planned, stress free and well provided for retirement is something we all aspire to achieve. Until the appropriate age is reached, we work hard to save enough and invest in the right instruments that provide good returns with nominal to zero financial risk. To build the required corpus, the longest tenure is opted for. As the saved or invested sum earns interest at the rate specified and/or applicable based on market and economic conditions, the same is liable for taxation. These deductions can take a toll on the earnings and eventually affect the retirement corpus.
To avoid the harmful effects of taxation, there are several ways how these taxes can be avoided. Listed below are a few of such ways:
The maximum interest income can be earned by investing in a fixed deposit for senior citizens of NBFCs as they provide returns of the range of 8.10%. So, by making the right investment choices, finances for retirement will take good shape until the time they will be required for use. Learn more on this subject by following the resource given below: How Senior Citizens Can Make the Most of Tax Breaks on Offer
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About Author:Aman is working in the domain of Investment management in one of the top universities. He has published research papers and case studies in Investment and Fixed Deposit marketplace. He is an avid blogger in the domain of Investment management. you can also find him on social networking platforms. Archives
August 2022
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