During the last few months of a financial year you see people making last moment impulse decisions to invest in tax saving instruments and in the process they may end up buying products which are not right for them. Tax planning should be done a few months in advance as it gives you ample time to understand and evaluate different options that are specific to your financial situation. Start your tax planning now for Assessment Year 2010-11.   1. Utilize Income Tax exemptions Section 80C This is the most popular exemption as you can claim up to Rs. 1 lakh in deductions. The options include Employee Provident Fund (EPF), Public Provident Fund (PPF)- up to Rs.70,000 per annum, National Savings Certificate (NSC), 5-year bank fixed deposits, 2. Interest on your home loan The interest component of your home loan is allowed as a deduction under the head 'income from house property' under Section 24(b) up to a limit of Rs 1.5 lakhs a year in case of a self-occupied house. 3. Shuffle and switch strategy Shuffling is a popular strategy used by ELSS investors which have a mandatory lock-in of 3 years. If you have been investing Rs 50,000 for the past few years and don't have cash to invest this year, you can easily redeem investments made 3 years ago and re-invest that amount this year to claim the benefits. 4. Charitable donations are tax smart While donations should not be made simply for tax purposes but for philanthropic reasons, you can always make a couple more at the end of the year to lower your tax. You get a tax relief if you donate to institutions approved under Section 80G of the Income Tax Act. 5. Divide your income Normally, if you invest in your wife's or child's name, the income generated from such investments will be clubbed with your income and taxed accordingly. However, if you transfer money through a deed to a child who is over 18 years of age and invest in his name, then the income generated from such investment will not be clubbed with your income. read more... “Anger is a very natural reaction of the body, meant to put you into self- productive mood”. Frequent outbursts of anger harm your personal relationships and quality of life; they also have a bad effect on your health. Anger can cause insomnia and depression. read more... Providing a good life to your child needs long-term financial planning. Be it education or marriage, you need a steady source of income over years to be able to meet with the ever changing needs of your child as s/he grows into an adult. read more... A step to conserve water is the step to secure the future. The most essential among all the natural resources on earth is water. A drop of water is worth more than a sack of gold for the thirsty man. If each one of us makes efforts to save water today, it will save us later. Water conservation is the most effective and environmentally sound method to fight global warming. Water conservation is what that can reduce the scarcity of water. It aims to improve the efficiency of use of water, and reduce losses and waste. read more... Did you know that you should avoid consuming dairy products along with citrus foods? Or that starving your actually makes the body retain fat? These simple dietary tips can make a big difference to your wellness, so sit up and take notice. » Try to eat your breakfast within one hour of waking up, as it will help speed up your metabolism. Metabolism slows down during the night and breakfast helps kick-start it up again. If you wait longer, your body begins to go into starvation mode and your metabolism begins to slow down even more. » Eat bread along with the crust, as the crust contains 6 times more antioxidants than the light-colored innards of the bread. » Drink lemon juice and honey in warm water early in the mornings; it reduces water retention and helps in digestion. » Avoid drinking cold water or cold beverages after a meal, as it leads to indigestion: Drinking cold water after the meal solidifies the oily food that you have just consumed. This slows down the digestion. It is best to drink hot soup or warm water after a meal. » Eat water-filled foods like cantaloupe (kharbooja), watermelon, pineapple, spinach and cabbage as they are low in calories and will make you feel fuller. read more...   Please do not reply back to this mail. This is sent from an unattended mail box. 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