Tax Saving Options: As soon as the month of March starts, investors start tax planning. In this era of investment, everyone wants to invest money in such schemes in which they get the benefit of better tax rebate along with bumper returns. Most of the people opt for Section 80C of Income Tax for tax saving. In this, investors get a discount of up to Rs 1.5 lakh. There are many such tax saving options available for investors in which they can get strong returns by investing, but it involves more risk. If you are looking for risk free investment option for tax saving, then we are giving you information about it. Let us know about those schemes in which you are getting the protection of risk free investment along with tax saving-
1. Bank Tax Saver FD
Bank’s FD scheme (Bank Tax Saving FD) has always been considered a safe investment option. There is no risk involved in this. Banks give the option of 5 years tax saver FD to their customers. This deposit scheme usually has a lock-in period of 5 years. You can get a tax rebate of Rs 1.50 lakh annually on the deposits invested in it. Most government and private sector banks are offering interest rates ranging from 6.5 per cent to 7.5 per cent to customers on tax saving FDs.
2. Public Provident Fund (PPF)
The scheme run by the government i.e. Public Provident Fund scheme provides you the option of risk free tax saving. In this, you can invest an amount ranging from Rs 500 to Rs 1.5 lakh every year. The benefit of exemption of up to Rs 1.5 lakh on the amount invested in PPF is available under Section 80C of Income Tax. The government is offering an interest rate of 7.1 percent to the investors under this scheme. In this you can invest money for a total of 15 years.
3. National Savings Certificate
Another risk free tax saving option is the National Savings Certificate. Under this scheme, investors are getting 7.00 per cent returns. Under this scheme also, investors get a rebate of Rs 1.5 lakh under Section 80C of Income Tax. You can invest in NSC for a total of 5 years.
4. Voluntary Provident Fund (VPF)
Voluntary Provident Fund ie Voluntary Provident Fund is a small saving scheme of EPF under which investors can invest in VPF apart from EPF. All employees contribute 12% of their salary in EPF. Along with this, planning also has to contribute 12 percent in this. At the same time, through the Voluntary Provident Fund, the employee can invest more than 12 percent of his own. But in this he will not get the support of planning. In such a situation, the amount invested through VPF also gets the same interest rate of 8.1 percent as EPF. Under VPF, investors get a rebate of Rs 1.5 lakh under Section 80C of Income Tax.
5. Sukanya Samriddhi Yojana
If you have a girl child below 10 years of age in your house, then by investing in Sukanya Samriddhi Yojana scheme for her, you can get tax exemption as well as strong returns. SSY is a government scheme under which the girl child is given the option of investing up to Rs 1.5 lakh annually to become self-reliant. Under this scheme, 7.6 percent interest rate is available. Along with this, it is a great tax saving scheme in which you get risk free exemption of up to Rs 1.5 lakh under Section 80C of Income Tax.
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