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Pay attention to liquidity needs while selecting tax saving instruments

Investors in higher tax brackets may avoid products taxed at the slab rate

INVESTMENT, PLANS, SAVINGS, mf, mutual funds, investors, equity, pension, NPS, funds
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Sarbajeet K Sen New Delhi
If you have not begun your tax-saving investments yet, it is time to start the process. Postponing it for the fourth quarter could result in a cash crunch. Tax-saving related mistakes occur primarily when investors choose products in haste at the last moment. Also, these investments should not just be made for tax saving; they should also help the investor achieve his financial goals. Here are a few common mistakes that should be avoided:

Investments not linked to goals

People often choose products like equity-linked savings schemes (ELSS) because their past returns are good. But before doing so, the investor