How to save tax without Lock in for long years ?

POSTED BY rohitailani ON December 26, 2013 10:49 pm COMMENTS (2)


I am a 28 year old and this year my annual salary would be around 4 lac. Right now I have LIC policies of around 35k. But now, I don’t seek more investment in LIC for 20 years. For now, can you please advice which is the best way to gain tax benefits wherein the money is not blocked for long term. I can invest a max of 25-30k more.

And also can someone suggest which all banks provide the same. One more thing how much is the HRA, I can get as per my salary band. Please suggest, I am too much confused.

2 replies on this article “How to save tax without Lock in for long years ?”

  1. Ashish Garg says:

    Hi Rohit,

    If you are looking at investing only for saving the income tax and for shorter time period, you may look at Tax saving FDs (for 5 year duration). But why would you like to look at saving tax by investing in for a short duration. As dear Ashal has suggested look at building your wealth for future and not just to save tax.

    2. Generally, HRA is 40-50% of the Basic salary.

    Ashish Garg

  2. ashalanshu says:

    Dear Rohit, why are you focusing to much on Tax saving and not on wealth building for your future? Please spend some time to read past queries/discussions and you ‘ll get a lot of info.



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