Let us all
welcome the year 2013 with varied ideas to bring home tax planning for you and
your family and also take you through Investment Strategies for investing your
money. The following thirteen important Investment Tips for the year 2013 will
surely help you to achieve your desired results :-
1. Income-tax file for one
and all: In whose name to make the investment yes, this should be the first
point in the back of your mind before planning investment strategies for 2013,
it is time now for every tax payer of the country to make a resolution to have
a separate independent Income-tax File for every member in the family. The
objective of this is to achieve tax planning and cut down on your income-tax
payments. Firstly think of your wife and if she does not have till now a
separate independent Income-tax File, then start of having such independent
Income-tax File for your wife. The concept of gift and loans in the name of
your wife will help you to achieve this. However, do remember that your wife
can receive gift from any relative other than her husband, her father in law
and her mother in law. However, wife is free to take loan with reasonable
interest from anyone including the husband. Similarly adopt the concept of
gifting your major children and start having separate independent Income-tax
File for your major children.
2. Investments for Hindu Undivided Family tax
file in your kitty Investments made by your Hindu Undivided Family can bring
rich dividends for you in the year 2013. If you are a Hindu, then it is time
now to find out whether you have a separate independent Income-tax File of your
Hindu Undivided Family. If still now you have not been instrumental in opening
a separate Income-tax File for your Hindu Undivided Family, then right now is
the time when you should start such separate Income-tax File in your family so
that it helps you in the process of tax planning. The HUF file apart from
enjoying the basic income-tax exemption of Rs. 2,00,000 will also continue to
enjoy tax deduction in terms of section 80C as well as deduction for interest
on housing loans. Also do remember that your HUF file can come into existence
whether you have a son or just a daughter and even if you do not have any
children, still your HUF file can come into existence right now.