Tax Savings Scheme: Most of the people are looking for a better option for saving. An option in which your money remains safe and you also get the benefit of good returns on it. Now it comes to the question that even after all this you have to pay tax, so now we are going to tell you the solution to this problem of yours in this news.
Today we are going to tell you about some such government schemes in which you will not only get better returns by investing but you will also get tax exemption. Let us know about these government schemes…
It is not easy for working people to start work again for regular income after retirement. At the time of retirement, many people invest their savings somewhere and find ways to earn money, so that life continues in a better way. But not every investment option proves to be very safe. There is also a fear of losing money.
In such a situation, it is better to invest your savings in such a place where there is no fear of losing money and at the same time there is regular income on it. For this, some government schemes may prove better for you.
When it comes to tax saving, if you are also looking for such a scheme, in which along with saving tax (Tax Savigs Scheme), you can get a return of more than 8 percent. So today we will tell you about 7 such government schemes, through which you can save tax.
Sukanya Samriddhi Yojana
In Sukanya Samriddhi Yojana (SSY), investors are getting the benefit of interest at the rate of 8.2%. An account can be opened in the name of a girl child below 10 years of age. In this you can invest maximum up to Rs 1.5 lakh. You can get tax exemption on investment in the scheme under Section 80C of the Income Tax Act.
Public Provident Fund
This is the best option to invest. You can invest in Public Provident Fund for tax saving. Currently, 7.1 percent interest is being given annually in this government scheme. The special thing about this scheme is that by investing in PPF, you can avail the benefit of tax savings under Section 80C of the Income Tax Act. Under 80C, maximum tax exemption is available up to Rs 1.50 lakh. Tax exemption is also available on maturity amount in PPF.
National Savings Certificate
You have to invest once in NSC i.e. National Savings Certificate. Its maturity period is five years and 10 years. 7.7 percent interest is being given on this. The minimum limit of investment in this is Rs 1,000. The total interest received on maturity is taxable. Partial withdrawal can be made from it after a period of three years. Can avail tax exemption under 80C. There is no maximum limit on investment in this.
National Pension Scheme
If you have sufficient amount of money then National Pension Scheme can prove to be a better option for you. In this, not only you can save tax on annual investment, but you will also get the benefit of pension after retirement. Apart from the exemption available under Section 80C, you can avail an additional exemption of Rs 50,000 under Section 80CCD(1B) on investment in NPS.
Tax saving FD
Whenever it comes to saving, fixed deposit (tax saving FD) is a reliable investment option. But let us tell you that tax exemption is not available in all FDs. You can avail tax exemption only on tax saving FD. The lock-in period of the scheme is five years. You can open only one tax saving FD in every financial year. The special thing is that you can claim tax exemption under 80C.
Time Deposit Scheme
You get the benefit of 6.9 to 7.5% interest in time deposit scheme. Investors in these schemes get the benefit of tax exemption under 80C. Let us tell you that there is no limit on maximum investment in this government scheme also.
