Tax To-Do list: Expand your investment portfolio

If you think 80 C is the section which can help you avail tax benefits. You are absolutely right. It has been a noticeable trend among taxpayers that their investment in public provident fund, national savings certificates and mutual fund schemes is most of the times less than the advised limit. These investment tools can help you maximize your return benefits to a very large extent. 80 C caps an overall limit of Rs 1 lakh in terms of the tax deduction that can be claimed under it. However, most taxpayers do not even invest up to half this amount.
Section 80C is one of the most beneficial sections and it is highly recommended that taxpayers must at least invest up to the maximum limit of Rs. 1 lakh through a diversified investment portfolio so as to avail maximum benefits under this section.
Here is a checklist that ensures that you save a little extra with efficient tax planning as well as be a smart and informed taxpayer:

• Health is wealth – quite literally
• Claim what is rightfully yours
• Self assessment – a must do
• All sources are good sources- report money from everywhere
• Deadlines matter: honor the due date to file your return
• If it’s exempt, why hide it?
• Non declaration of income earned from previous employer