If you are earning good, suppose having salary 60 thousand or more than it. Then it will be better option to invest your money if you want your TDS should not be deducted. Here are few good and more preferable plans are suggested which you can invest in.
1- PPF – It is the best saving scheme in India and falls under EEE tax bin which implies money is all yours following 15 years, TDS isn’t deducted. Maximum you can contribute is 150000 annually.
In any case, with 60k salary it will be hard to achieve that objective so start with 5k every/month in any event that how you constrain yourself to spare. (You can likewise get a loan against your PPF). PPF has the benefit of cumulative funds, which help you leverage the benefit of a higher interest at maturity.
2- Health insurance policy – Another best saving plan you can choose and it’s not an investment but rather an Insurance and can be extremely helpful endeavour to contribute no less than 2k/month which certainly won’t hurt you.
3- Fixed deposits or Recurring deposit – Invest 2k consistently after earning a good salary, won’t give you higher returns however certainly a decent choice for constrained sparing. It is considered to be a best saving scheme. A check list is available for investing in company fixed deposits. Have a look on it in image graphic attached.
Benefits of Investing
There are numbers of benefits of investments that persons new to the investment and savings should know. A youngster before starting a job if road map their investment, it can be most beneficial. He/she can use that money return in real estate. The money can be used for business funding while starting own venture. It could be used to maintain personal expenditures and household needs. Many more ways are there to use the money returned from your investment.