Respected sir, in this financial year i started investing in NSE with the help of VIVEKAM FINANCIAL SERVICES,Hyderabad.Every month i am investing Rs15000.I want to continue it for 10 to 15 years.I am paying tax every year, as I am a state govt.employee and my annual income is 6 lakhs. My wife is an house wife and has no income source and her annual income is zero. So I want to invest this Rs15000 every month on her name to get tax-exemption. Is my thought correct sir? Will i get tax exemption if I do so? Please clarify me sir.
I am not sure whether EQUITY means direct into stock market or in MF. However, first identify your financial goals. Once you know the time horizon, required amount and the risk you can take, then while identifying the product within asset class, you can choose the tax saving instruments. If you are unable to do on your own, then take the help of a planner.
Sir, i have already invested in ELSS schemes. Now I am investing in equity schemes but not in mutual funds. if I invest this amount in behalf of my wife’s name will i get tax exemption?