Hi
I need some guidance on the following.
I am 21 yrs and a new employee. The Finance and account person informs me that I need to invest 50k to get Incme tax rebate or else I need to pay some 10k as Income tax. I can spare 50 k now but I am not sure where to invest.
I dont have any insurance. I am thinking of taking term plan. but the max period is only 30 yrs. So if i take now it will cover me only upto when I am 51 yrs.
PPF is another option. Should I put the entire 50k in PPF?
Any advice will be apprecieted.