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The Cindy Shearin Group Real Estate Properties

15 Tax and Investment Planning Tips for 2015

Well, the year 2015 has just started and for the benefit of our readers we will like to share
with them Fifteen important tips for Tax and Investment Planning. These tips will surely
help every tax payer to save some portion of his income-tax and also proper planning for
his investment. Here are these fifteen tips:

1. Cut down your tax payments

The first theme for the year 2015 should be to cut down all your tax payment and this is
possible through two vistas. First is taking advantage of all exemptions and deduction and
second is ensuring Income-tax file for every member in the family. If you are able to take
care of these two vistas only then surely your year 2015 would be a wonderful year
bringing lot of money for you as a result of tax planning and also making money grow for
you by proper planning of investment based on the changes made by the Government
relating to investment strategy in whole of year 2015.

2. Planning for elder family members

The next step in tax planning is to plan for a separate independent income-tax file of your
Dada, Dadi, father and mother. This can be done through gift by you. Likewise, you can
think of taking out Mediclaim Policy for your aged parents and this can help you to cut
down your income-tax because you can enjoy additional deduction under section 80D
amounting to Rs. 20000.

3. Tax Planning for the couple

In the year 2015 think of innovative ideas for tax planning for the couple and here
are some of the important points which should be taken into consideration by you:

(a) A separate income-tax file of the spouse.

(b) Taking care of non-clubbing provisions
(c) Maximising tax deduction under section 80C for you and your spouse separately .
(d) How a residential house for you and your spouse jointly owned by you would get you
best deduction and maximum deduction of Rs. 2 lakhs per annum for each of you.
(e) Make payment of Mediclaim Policy Premium for you and enjoy tax deduction up to Rs.

4. Tax Planning for your Children

Three types of Children Tax Planning to be done:

(a) - For Married children - Plan for creating a separate income-tax file for your daughter in
law if not already done. Avoiding transactions which cause clubbing of income.
Create a new HUF file for your married children so that a new tax entity can be created.

(b) - For major unmarried children.

Take education loan If the Income-tax file is not yet created of major unmarried children
who are students, think of creating a separate Income-tax File through gift. No clubbing of
income will arise.

(c ) - For minor children

Plan right now some funds for your minor children so that growth is high, tax is nil for long
term perspective.
The income of the minor child is clubbed with the income of the parents and only a
deduction up to Rs. 1500 per annum is available. Hence, if you make a gift to your minor
child, make the investment in such a manner that the income does not become taxable in
the hands of the parents. Think of buying Mutual Fund and Direct investment in the name
of the minor child in the stock Market so that at least after one year the income received
becomes tax free. Also think of creating a Special Hundred Percent Welfare Trust for the
minor child so that the income-tax file of your minor child can be started without attracting
the clubbing provisions.

5. Tax Planning for your Spouse and new year gift from husband to wife

If we think of making a gift or a big gift to the spouse, the income thereof will be clubbed
with the income of the husband. Hence, what is recommended is that as far as possible try
to avoid making of the gift to the spouse but in the new year some gift and some
memorable gift is definitely required to be given to your spouse specially when you want to
stay peaceful in the family and I would like to suggest you to make a gift in the form of a Big
No No. What is this No No.? This No No from tax planning is B B Not. Well the meaning of
B B Not is Bank Balance Not. That is touch me not. Says the bank balance of your spouse.
Dont withdraw from the bank balance of your wife either for day to day household
expenses or for travel or for children education expenses or for shopping. All these
expenses in 90 per cent of the cases should only be met from tax planning angle by the poor
husband. This is because if you dont withdraw the money from the bank balance of your
wife, then her balance accumulates and she is able to invest the money because all
household expenses etc. etc. are taken care of by you. At least Mr. Husband if you cannot
think of making a big gift for the year 2015 to your wife, at least think of this idea to
provide B B Not formula i.e. touch me not formula of the bank balance of your wife.

6. Your Investment in Life Insurance Policies.

Make it a point that it is time now that one Sunday morning take out time to spend 2/3
hours on finding out whether you are adequately insured or not. Unfortunately when I
meet tax payers, I find that in most cases their insurance coverage is limited to the
investment which they are required to make in terms of section 80C of the Income-tax Act,
1961. May I suggest at this time now that looking in particular the fast life you live, you
must devote sometime to access the actual need of insurance in your family and go beyond
the tax deduction of 80C for making insurance premium payment for the family
members. If you have taken a big loan either for car or for house or for big education loan
for your children, then it is also time now to think and adopt the theme of getting a Term
Policy equivalent at least to the total amount of the loan on your head. Hence, think and
think and take out new investment for insurance policy during the year 2015.

7. Are you planning to become a Non-Resident Indian.

Your uncle has gone abroad. Your brother has gone abroad and so now it is your desire
that you also want to go abroad for studies or for doing business. Well from tax angle the
decision should be taken in the year 2015 that if you are interested to become a NonResident Indian, in that situation leave the country in the year 2015 not in January 2015
itself but think and plan to go abroad from the point of income-tax astrology between 1st
April 2015 up to 30th September 2015. Well this is a tax astrological answer befitting this
theme and that is that if you leave India during the above period, you would become a NonResident Indian and by chance if you leave India in October 2015 onwards, then it is not
possible to become a Non-Resident Indian during the coming financial year. Hence, from
tax planning point of view leave India and leave your friends and family members between
1st of April 2015 till 30th September 2015 and move anywhere in the world. Earn money.
Bring money back and happy news no income e-tax planning at all and this is because of
the fact that non-Resident Indian is not required to pay income-tax for his foreign income.
He will pay income-tax only on Indian income.

8. Prepare physical tally of your assets.

During the year 2015 I would like to suggest each and every person whether a small
investor or a big investor or whether a serviceman or a retired person, it is time now to
have a physical tally of all your assets during the year 2015. Once the tally is made, you will
be sure of all your bank FDR or Mutual Funds or Shares and all your gold and diamond

jewellery. Both husband and wife should prepare a physical tally of all the assets and
this must be done at least once in a year. In the year 2015 think of having a physical tally of
all your assets.

9. Tax Planning for Real Estate in the year 2015

I feel that Real Estate should be a good investment for you in the year 2015 and here are
some of the important points which you may keep in mind while making your investment
in the Real Estate.
1. Expected creation of 100 smart cities. Hence, invest and make profit.
2. Buy and sell property only with Circle Rate or else big tax problem coming to you.
3. When you buy the property, have a clear cut demarcation of the same.
4. For bright future buy the property jointly in the name of husband and wife with their
individual funds and let both of them take the benefit of tax deduction.
5. Tax advantage of the upcoming affordable housing scheme which are being planned in
different towns of India. Invest and make big profit.
6. Dont sell your Real Estate before holding it for a minimum period of three years.

10. Gold, Silver and Diamond investments

I would like to recommend to our viewers that when the prices of the gold and silver
further fall, at that time it would be a good idea to think of making a small little investment
in the year 2015 in gold and silver and in raw diamonds. I am not in favour of buying more
and more jewellery because the resale value will be lower and more particularly when you
want to make investment in gold and if you want no wealth tax liability to come to you and
also you want to take care of the theft of the gold , then it is time for you now from the year
2015 onwards think of buying not raw gold but of buying gold in Demat Account through
Mutual Fund and also invest in gold bees.

11. New business in the year 2015

For those who are thinking of starting a new business it is time for them to encash the
growing economy of the country and at least start one new business venture in the year
2015. Most important from tax planning point of view when you are thinking of starting a
new business venture then first find out the tax entity in which your business should be

12. Investing in Stock Market in the year 2015

In the year 2015 I will see a blooming Stock Market. It is time now for the investor to think
of making investment in the Stock Market and reaping the fruits in the year 2016 onwards.
For those interested to invest in the Stock Market, the following tips are important:

1. Think of investing and forgetting the sale of the same for a minimum period of one year
so that the profit you get becomes tax free.
2. If you do not know where to invest in equity market, then think of investing through the
Equity Mutual Fund only.
3. Do not make investment in Debt and other investment options of the Mutual Fund
4. I expect in the year 2015 new investment proposals being made available by the
Government of big investment in Government company shares. I feel it should be a good
time to make investment in those shares..

13. Surplus money in buying second house or a commercial property

From tax point of view buying a second house property not for self occupation but only for
getting rental income is a good idea. Similarly, making investment in commercial property
for the purpose of getting rental income is also a good idea. The main important feature is

that when you buy the property for letting it out, you get a deduction in respect of interest
on loan without any upper limit. Hence, it is really a good idea.

14. Wait for Budget 2015

Yes, the Finance Minister will be presenting the budget on 28th February and I would
suggest all my viewers that please keep your eyes and ears on your Budget so that you are
able to get the plus point and the minus point of the budget 2015-16 and you can gear and
plan your strategy of investment and tax saving based on the exemptions and deductions
which are available as per the Finance Bill.

15. Miscellaneous points from Tax and Investment Planning point of


Some of the small point to be taken care are as under:

1. Plan for Succession Planning. Prepare Wills. Revise Wills.
2. Think of making investment in Tax Free Bonds issued by the Government.
3. Invest in KVP that is Kisan Vikas Patra particularly in the names of all those family
members having income below the exemption limit or in the name of your parents who do
not have taxable income. For you it is not advisable to invest in KVP but for family
members, yes, you can invest.
4. Now relax and think of having on your agenda the first item as Health Care Management
with peace, happiness, bliss at your command and then the money will be made available to
you by tax and investment planning and finally do remember to adopt tax planning but not
tax evasion.