India observes financial year from April to March. March month is the last chance to declare tax investments to save taxes. But there are other activities too other than declaring LIC Investments. 🙂
Buckets are such a tools which we have been using from generations. It’s very simple to use. We use buckets for water, popcorn and what not. Today I propose a theory around buckets called “Bucket Theory” for tax planning in India (and similar tax structure countries).
ELSS stands for Equity Linked Savings Scheme. ELSS schemes are equity mutual fund schemes approved by SEBI for tax benefits under 80C for invested amount. Such schemes are meant to encourage people to participate in market appreciation instead of stashing money in fixed maturity or insurance product with investment objectives.