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Vivek Lala  | Answer  |Ask -

Tax, MF Expert - Answered on Jul 22, 2023

Vivek Lala has been working as a tax planner since 2018. His expertise lies in making personalised tax budgets and tax forecasts for individuals. As a tax advisor, he takes pride in simplifying tax complications for his clients using simple, easy-to-understand language.
Lala cleared his chartered accountancy exam in 2018 and completed his articleship with Chaturvedi and Shah. ... more
praveen Question by praveen on Jul 05, 2023Hindi
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Money

Hi, Vivek good morning, my dad is 84 years and he has a pension of 19 plus lakhs, to save he puts in PPF only and is their any other options to save his tax.

Ans: Hello,
Its better to invest in ELSS rather than PPF because of many reasons like returns, liquidity, ease of access, etc.
Also from FY 23-24, I assume the new regime will be a better option for him so no need to park his money in PPF, rather he can do an sip in Mutual funds for his investments

Please note that these suggestions are based on your stated goals and the information you provided. It is always a good idea to consult with a financial advisor in person to better understand your risk tolerance, time horizon, and specific financial goals.
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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