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Anil Rego |388 Answers |Ask -Follow

Financial Planner - Answered on Jul 13, 2021

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more

Question by Kailash on Jul 13, 2021Hindi

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Do my interest earning money will not come under subject of 80C, 80CCD & others?

Ans: No, interest earned is added to income and cannot get you a deduction (interest from PPF is tax free, though). If this income exceeds 3 lakhs, you will have to pay tax as per the tax slab. You can however invest into avenues covered under section 80 which can help you get a deduction. The point to keep in mind is that tax saving options normally are locked in and may not give you a regular income.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Thank you very much sir. My car loan is 9 lacs actually a top up loan from icici of 9% reducing and 8.60 from hdfc of 4.75 lacs. Also tell.me shd I move my fd to swp. Also I invested 10 lacs in physical gold. I am excited to invest in swp for 5 or 10 lacs and not withdraw until next 5 years will that give me a good corpus for next 10 years?

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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