Save Tax Smartly
Tax saving season is a time when we are highly prone to make wrong investment decisions. For the average person, Section 80C (which covers a host of investments and expenses) and Section 80D (which covers health insurance premium), offer several options that should exhaust the limit. You should keep track of how much is already fulfilled for 80C without making any additional investment. Only after this, you should think of tax-saving investments with a family-based approach involving your spouse and children. You can also consider multiple instruments for Rs1.5 lakh investment each, even though the limit for tax deduction is Rs1.5 lakh. 
 
In our Cover Story, Raj Pradhan has given a set of innovative strategies for navigating Sections 80C and 80D. Remember, the Finance Act 2015 has increased the limits for 80D savings. Health insurance products for 80D tax savings can also be utilised to the optimum without unnecessarily chasing it just to complete the quota. We have given a few options beyond the popular mediclaim policies to cover your family and simultaneously utilise the higher limits. Read the Cover Story to get unbiased advice on tax savings, as always. 
 
In her Crosshairs column, Sucheta points out how the law has, finally, caught up with Helios & Matheson which has left thousands of its fixed deposit investors high and dry. Moneylife alone has been writing about this company from time and time, while the market regulator seems to be in a deep slumber even as it thunders about corporate governance periodically. In her Different Strokes column, Sucheta wonders what an alien, like PK would, think about the Indian financial sector. Wouldn’t he be as shocked about the completely unaccountable public sector banks as he was about our religious hypocrisy? 
 
Our investment columnist, R Balakrishnan, continues to share his excellent investing thoughts for the long term. This time, his advice is: Do not get caught up in discussing markets and aggregate data; stay focused on high-quality businesses. We love to hear from you. As always, do write to us with suggestions and comments. 
 

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SC nod for Make in India function at Chowpatty beach
New Delhi : The Supreme Court on Wednesday gave its nod for the holding of the Make in India function at Mumbai's Chowpatty beach on February 13 that will be attended by Prime Minister Narendra Modi and the prime ministers of four other countries.
 
The apex court bench comprising Justice M.Y.Eqbal and Justice Arun Mishra gave the go ahead after Attorney General Mukul Rohatgi told the court that functions would show case India and it culture.
 
He said that function was a matter of country's pride as it would be attended by delegates from 56 countries.
 
Attorney General Rohatgi told the court that if stopping the holding of the function at Chowpatty by the High Court was correct, then why hold Republic Day parade at India Gate.
 
As the counsel for the high court appointed committee urged the court that functions should be held under its gaze as it would impact the movement of the traffic, the attorney general said that the function was being organised by the Maharashtra government and the Centre and they will take care of everything.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Samir Bhujbal sent to ED custody till February 8
Mumbai : A special court here on Tuesday sent Nationalist Congress Party leader Samir Bhujbal to the custody of Enforcement Directorate till February 8.
 
The ED had arrested Samir - the nephew of former deputy chief minister Chhagan Bhujbal - late on Monday on various charges under the Prevention of Money Laundering Act.
 
Special Judge P.R. Bhavke sent him to six days ED custody after the agency said that he had failed to appear despite three summons served on him.
 
The ED further said that it had scrutinized various records, bank documents and learnt about certain hawala transactions involving certain officials of the Mumbai Education Trust, controlled by the Bhujbals.
 
Earlier on Tuesday, NCP president Sharad Pawar sharply criticized the state government for what he termed "targetting" of the NCP leaders, specifically the Bhujbal family.
 
Samir's arrest followed a day of searches at nine premises owned by the Bhujbals in Mumbai, following complaints by BJP MP Kirit Somaiya who has been actively seeking to expose their alleged corrupt activities.
 
Last month, the ED had attached two properties worth Rs.1.10 billion in the Mumbai suburbs, preceded by two cases filed under Economic Case Information Reports against Chhagan Bhujbal, son Pankaj and nephew Samir, last June.
 
Besides, the Anti-Corruption Bureau has lodged three FIRs against the Bhujbals and other officials in the Maharashtra Sadan (New Delhi) building scam and a plot of land in Kalina, western suburbs of Mumbai, by a SIT under the orders of the Bombay High Court.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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