- Advertisement -
Home Personal Finance Tax Saving Schemes: Want to save income tax, then invest in...

Tax Saving Schemes: Want to save income tax, then invest in these schemes – you will get more benefit with strong returns

0
Income Tax Saving: These people can save tax in these 5 ways, know how

Tax Savings Tips: If you do a job and want to start investing, then this is a good opportunity for you. At the same time, your salary comes under the income tax slab and your tax is made, then you can invest in the schemes issued by the government, where the benefit of tax saving scheme is available from the government.


At present, there are many such schemes in the country, where you can save tax by investing. Here we will tell you about 3 such tax saving tips, in which you will get the benefit of tax exemption by investing and can also prepare a good corpus for the future.

Public provident fund

PPF is a great option to save tax and invest in a safe place. Under this scheme, any investor can deposit a minimum of Rs 500 and a maximum of Rs 1.5 lakh in a year. The interest rate on PPF is 7.1 per cent per annum. The special thing about this scheme is that the investment money, the interest received on the investment money and the maturity amount are all tax free.

Sukanya Samriddhi Yojana

Under this scheme, the investor gets an interest of 7.6 percent. Under this scheme, you can deposit Rs 250 to 1.5 lakh annually in your daughter’s account. Money is deposited here for 14 years. When the daughter turns 21, the investor gets the money back with full interest. The daughter’s age should be less than 10 years to invest here.

Fixed deposit

Apart from PPF, you can invest in FD. You also get tax exemption by investing here. However, the point to note here is that the lock-in period in this scheme is 5 years. That is, you cannot withdraw money before 5 years. At the same time, the interest rates available on FDs are always changing.

Senior Citizen Saving Schemes

SCSS is a good savings scheme for senior citizens. SCSS account can be opened in a bank or post office. A maximum of Rs 1.5 lakh can be invested in this annually. At present, interest is being given in it at the rate of 7.4 percent per annum.

National Pension System

NPS is a government retirement savings scheme. Apart from saving Rs 1.5 lakh under 80C, the benefit of up to Rs 50,000 can be taken in this. That is, by investing in NPS, you can take a total exemption of Rs 2 lakh in income tax. You can start investing in it from Rs 1,000 a month. Any Indian citizen whose age is 18 to 65 years can open an account in this scheme.

Equity Linked Savings Scheme

Equity Linked Savings Scheme (ELSS) is a type of equity fund. This is the only mutual fund in which exemption up to Rs 1.5 lakh is available under section 80C of the Income Tax Act. Returns/profits up to Rs 1 lakh per annum are not taxable in ELSS. ELSS has the shortest lock-in period of 3 years, which is the best among all tax saving investment options

- Advertisement -DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com

Exit mobile version