New Delhi: If you have not made any tax saving investment till now, then you have very little time left now. You can do tax saving till 31st March. In such a situation, we will tell you how and where you can do tax saving.
You have many schemes for tax saving. Such as Senior Citizen Savings Scheme, Public Provident Fund, Sukanya Samriddhi Yojana, let’s know the complete details.
1. Senior Citizen Savings Scheme
Senior Citizen Savings Scheme can be opened after 60 years of age or more, it gives interest at the rate of 8.2% per annum. A person taking VRS who is more than 55 years but less than 60 years can also open this account. Under this scheme, money can be invested for 5 years. Please note that after maturity, the scheme can be extended by 3 years. A maximum of 15 lakh rupees can be invested under this scheme.
2. Sukanya Samriddhi Yojana
Under Sukanya Samriddhi Yojana, an account is opened in a post office or bank after the birth of the girl child and before she turns 10 years old. You can open an account for Rs 250. It gives an interest rate of 8.2% per annum which is more than FD. You can deposit a maximum of Rs 1.5 lakh in any one financial year under this scheme.
3. Public Provident Fund
Currently, 7.1% interest is being given on the amount deposited in Public Provident Fund (PPF) accounts. PPF account can be opened for 15 years, which can be extended for another 5 years. You can open an account in PPF with a minimum of Rs 500. Please note that it is necessary to invest at least Rs 500 in a financial year. You can invest a maximum of Rs 1.5 lakh in a year.
4. National Savings Certificate
Investment in Post Office National Savings Certificate (NSC) is getting 7.7% annual interest. To open this account, you have to invest a minimum of Rs 1000, there is no maximum limit.
5. Time Deposit Scheme
Time deposit scheme is a type of fixed deposit. In this, you can take advantage of fixed returns and interest payment by investing a lump sum amount in a fixed time. In this, interest of 6.9 to 7.5% is being given for a period of 1 to 5 years. You can avail tax exemption under 80C by investing for 5 years. Let us tell you that on depositing in time deposit for 5 years, you will get interest at the rate of 7% per annum. In this, you have to invest a minimum of Rs 1000 and there is no limit on maximum investment.
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