Saturday, 16 April 2016

A Comment on making best use of your Bonus

My Comment on an article "7 ways to make the most of your bonus this year" published in the Dated 15/04/2016.

"Very useful advice. The author has explained in this article how to make the best use of your bonus so that you can benefit a lot from it.

The first thing to consider is to pay off some of your debts that do not save your tax or that which attract higher interest rates and so a burden on you.

The next advice is to benefit from the new tax break given in section 80CCD (1b) which allows additional deduction of Rs.50,000 invested in NPS which is in addition to the existing limit of 1.50 lacs under all clauses of section 80C.

Then, she advises you to increase your investments in Equities, to consider investing in Sukanya Samridhi, to consider buying a home with a home loan, and some other smart options."

All these tips are worthy of giving deep some consideration.

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