Get the benefit of tax exemption with strong returns by investing in these schemes, see the complete list here

Tax Saving Schemes: If you do a job and your salary comes in the tax slab, then you have to pay income tax. According to the current tax slab, a person with an annual income below Rs 2.5 lakh does not have to pay tax. At the same time, tax has to be paid on earning more than this. According to income tax, if a working person invests his money properly, then he gets the benefit of tax saving tips. There are many such schemes in which investors get tax exemption and better returns in future by investing. If your salary also comes under the tax slab and you want to avoid paying tax, then you can invest in the schemes mentioned by us. In this, you will also get the benefit of strong returns. Let us know about the details of these schemes-

1. Senior Citizen Savings Scheme (SCSS)

If you are retired and your pension comes in the tax slab, then you can invest in the Senior Citizen Saving Scheme of the post office for tax saving. This scheme is specially designed for senior citizens. A person above 60 years who has retired can invest in this scheme. Under this scheme, you get a tax exemption of Rs 1.5 lakh under Section 80C of Income Tax. In this scheme, you get a return of up to 7.6 percent. Along with this, you can invest from Rs 1,000 to Rs 15 lakh in this scheme.

2. Public Provident Fund (PPF)

Public Provident Fund has emerged as a very popular scheme of investment nowadays. Under this scheme, you can open an account in a bank or any post office. In this scheme, you can invest from Rs 500 to Rs 1.5 lakh annually. In this, you get a compounding return of 7.1 percent. This is a tax saving scheme in which you get tax exemption of up to Rs 1.5 lakh under section 80C of Income Tax. You can invest money in this scheme for 15 years.

3. Sukanya Samriddhi Yojana (SSY)

Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana) is a government scheme in which you can invest for your girl child till the age of 10 years. The government has made this scheme especially for the girls. Under this scheme, you can invest from Rs 250 to Rs 1.50 lakh every year. The government pays an interest of 7.6 per cent on the deposited amount. Along with this, exemption is also available under section 80C of income tax. On the other hand, after the girl child completes 18 years of age, she can withdraw partially and after 21, she can withdraw the entire money.

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4. National Pension Scheme (NPS)

National Pension Scheme is also a scheme made according to retirement. By investing in this scheme, you get the benefit of tax exemption. In this, you get a rebate of Rs 1.5 lakh under Section 80C of Income Tax. Apart from this, you get an additional exemption of Rs 50 thousand under 80CCD (1B). In such a situation, you get a total discount of up to Rs 2 lakh in this scheme.

5. Tax Saving Fixed Deposit Scheme

If you like to invest in Bank’s FD (Tax Saving FD) and also want to get the benefit of tax exemption, then you can invest in Bank’s Tax Saving Fixed Deposit Scheme. By investing in this scheme, you get exemption under section 80C of income tax. In this, your money gets locked for 5 years. In this, you get returns according to the FD rates of the bank.

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