How to save taxes without making additional investments under Sec 80C?

Making tax savings investments is a ritual that every taxpayer has to go through before the end of every financial year. There are many tax-saving schemes and options available for taxpayers in the Income Tax Act which helps them save a chunk of tax as well as make significant investments in the process. 

The most common and widely used tax-saving provision available in the Act is Section 80C. There are many options that the taxpayers can invest in under section 80C and claim the benefit of a deduction up to Rs. 1,50,000 from their gross total income. Some of the options available under section 80C are an investment in PPF, LIC, tax saving mutual funds, fixed deposits, Sukanya Samriddhi Yojana, NPS, repayment of home loans, etc.

Other tax saving options

Apart from Section 80C, the Act provides many more tax-saving options for the taxpayers to reduce their tax liabilities. Some of such tax saving options that you could consider for saving taxes before investing additional money under Sec 80C are (more…)

No interest on interest for loans during moratorium- Money Bites Newsletter 26 Mar

Money Bites

Short bites to keep you informed of matters that impact your wallet and wealth


Top Bite this week

No interest on interest for loans during the moratorium period

Image source: Livelaw. in

What’s going on here?
The Supreme Court gave its ruling on the petition for an extension of the moratorium period and waiver of interest during the moratorium period.

What does the ruling say?
If you remember the RBI allowed a moratorium on all loans between March -Aug last year. Though the moratorium was meant to allow time and relief to the borrowers, they were charged extra interest (interest on interest) during the moratorium.

In Oct 2020, the Union Government announced they would absorb the compound interest cost on all loans (like home, auto, education, personal loans including MSME loans) below Rs 2cr.

This facility was allowed even to those borrowers who hadn’t availed moratorium. (🤔Remember getting some amount credited to your loan and credit card account?) But some sections who were not satisfied with this approached the apex court for a complete waiver of interest and an extension of the moratorium.

The SC gave a ruling this week which said

  • The compound interest benefit should be allowed for all loans irrespective of the amount.
  • Complete waiver of interest would hurt the banks who have to pay interest to their depositors.
  • No further extension of the moratorium period and those who don’t pay EMIs beyond this period can be classified as Non Performing Assets.

How does this ruling affect you and me?

If you have loans over Rs 2cr expect some relief soon. However, this time it isn’t clear if the govt will bear the burden or pass it over to the banks and NBFCs to make the payment.

Also, if you haven’t paid your loan EMIs beyond Aug 2020, your account may be classified as a Non-performing asset which can cause a big dent in your credit score.

You Ask – We Answer

How much premium would I have to pay for a term insurance policy? – Premchand Pandey

In the last issue of our newsletter, we spoke about why the term insurance policies are going higher from April onwards.

Term insurance policies are meant to insure your life for a fixed period of time. So the premiums you pay depends on many factors like your age when you buy the policy, gender, medical conditions, habits (smoker/non-smoker), profession (a riskier profession like working in an oil rig, the military will have higher premiums), etc.

There are insurance premium calculators available on many websites that you can use to check the premium before you buy a policy for yourself.

💡 Do you have questions on personal finance & investing? Go ahead and ask away in the comments below. Get featured in our upcoming issues.

Financial Tip of the Week

Diversification- You wouldn’t put all eggs in a basket. Then why invest in a single asset category? Investing your savings in different asset categories (cash, mutual funds, debt, stocks, gold, etc)  can help you balance risk and returns.

  • Investing in the international markets can also be a way of diversification. Read📖 our blog which contains all the details on international investing.

Other Trending Bites

Listen 🎧
Buy a home: Home loan interest rates are at an all-time low. Is it the right time for you to buy a home on loan? Find out!

Watch 📺
Tax-free capital gains of Rs 1L: 5days to go before the financial year ends and you can make up to Rs 1L in capital gains….. absolutely tax-free. Check out how?

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Until next week,


Team Finity

Looking to invest in International companies? Learn all about it

A smart investment strategy requires choosing a good mix of various asset classes, which can match up to individual financial goals. Equally important are an investor’s risk profile and the time horizon for which he/she wants to stay invested. Any financial advisor would recommend investors ensure diversification through asset allocation. This is because investment in a wide range of asset classes ensures portfolio diversification and also offers a healthy risk-reward balance.

Every Indian investor must design his/her portfolio by considering these factors and also look at international investment to broaden the investment horizon. So why does international investment matter? 

Let’s find out! Here is everything that an investor needs to know about international investing. (more…)

टर्म इंश्योरेंस पॉलिसी प्रीमियम अप्रैल के बाद से अधिक हो सकता है।

इस अप्रैल से टर्म इंश्योरेंस पॉलिसी पर प्रीमियम राशि 10-20% अधिक हो रही है।











प्रीमियम की कीमतें अधिक क्यों हो रही हैं? अब क्या बदला है?


The cost of insuring your life going up? – Money Bites Newsletter 19 Mar

Money Bites

Short bites to keep you informed of matters that impact your wallet and wealth

Hey there,

Hope you are doing great!

The active cases of Covid 19 in India look to be on a rise again. We hope you are taking necessary precautions and staying safe. The govt has introduced a vehicle scrapping policy in a bid to increase the purchase of fuel-efficient vehicles. What do you think about it?

Top Bite this Week

Term insurance policy premiums are set to go high in April


Tax saving options for the Self-Employed

India has more number of self-employed people as compared to salaried individuals. Our country is called a large gig economy considering the population size of self-employed people who have made it so. Self-employment encompasses workers from varied categories like casual labourers to freelance professionals, graphic designers, writers,etc. Most self-employed individuals have irregular payment systems and therefore require tax-saving options to sync with their erratic payment schedule.

Here, we will discuss various aspects of tax saving for self-employed individuals in India. (more…)

Taxes on Mutual fund investments- How do they work?

The current generation has grown up listening about mutual funds. The most common thing anyone knows about then is that they are subject to market risks. Mutual funds are an easy and effective way of investment for all age groups. But when it comes to taxes on mutual funds not many are aware of how they are taxed and that’s when the investor has to bear the tax brunt. 

We bring you all the details that you need to know about how your mutual fund investments are taxed. We advise you to bookmark 🔖this page for your reference. 


क्या सोना अपनी चमक खो रहा है? क्या आपको इसे अभी खरीदना चाहिए?

सोने की कीमतें 55,901 रुपये के उच्च स्तर से 19% नीचे हैं।


Is gold losing its glitter? Should you buy it now? – Money Bites Newsletter

Money Bites

Short bites to keep you informed of matters that impact your wallet and wealth


Hey there,

Hope you are doing well!

It was International Women’s Day on the 08th of March and there were some interesting stats bought out by CIBIL- There is a faster growth of women monitoring their credit scores than men. As a correlation, the average credit score for this group is higher at 734 as against 726 for the men who monitor their scores.

The tax saving deadline is fast approaching, hope you have made the necessary tax saver investments.

Top Bite this Week

Is gold losing its glitter? Should you buy it now?


Demystifying the New Mutual Fund Riskometer

In recent times, mutual funds have undergone many regulatory changes. The primary motive behind most of these changes is to make mutual fund investments more transparent and safe for investors. One of the noteworthy changes that are being implemented by SEBI is the introduction of risk levels attached to all mutual fund schemes.

SEBI announced the introduction of a new riskometer back on October 5, 2020. This has come into effect on January 1 2021. Accordingly, all mutual fund houses have been instructed to notify investors about the risk level of their schemes. The risk levels must have a six-stage scale ranging from “Low” to “Very High”.

 Are you curious about what this means for you as an investor and how it could help you invest better? Let’s have a look at some important aspects to note about the new mutual fund riskometer.  (more…)