Saving money is important for everyone and everyone looks for such options in which they can invest along with tax saving and get better returns. Today we are going to tell you some such options which will give you good returns along with technology saving. This includes PPF Senior Citizen Scheme and Sukanya Samriddhi Yojana. Let us know about it.
New Delhi. The time is about to come for tax payers when they start preparing to save their taxes. In such a situation, they look for some such saving schemes, which can save tax and also get good returns.
The good thing is that the government brings some such options for you, through which you can save your tax and get excellent returns. We are talking about some schemes of the government, which include Public Provision Fund (PPF), Fixed Deposit, Sukanya Samriddhi Yojana (SSY) and Senior Citizen Scheme (SCSS). With these schemes you get guaranteed returns through interest. Let us know about them.
Senior Citizen Saving Scheme (SCSS)
- The Government of India has introduced the Senior Citizen Saving Scheme (SCSS), which is a special initiative for the senior citizens of our country. The aim of this scheme is to provide better and safe investment to the senior citizens of India.
- Only those people who are above 60 years of age can avail the benefit of this special scheme of the government.
- Apart from this, those senior citizens above the age of 55 years who have retired under retirement or voluntary or special voluntary scheme.
- And those senior citizens above 50 years of age who are former military personnel, except civil defense personnel. That means employees who want to retire early cannot use the SCSS allowance.
- In this special post office savings scheme, you can get 8.20 percent interest on your deposit. Investment in this scheme can range from Rs 1000 to Rs 30 lakh.
- In this plan you can get tax exemption up to Rs 1.50 lakh under 80C.
General Provident Fund (PPF)
- PPF is offered in many post offices and many banks in India and is a favorite investment plan of the people.
- With this saving scheme you get guaranteed returns and the interest earned from it is also tax-free. Let us tell you that PPF matures after 15 years i.e. it is a long term investment plan.
- At present, 7.1 percent interest can be given in the scheme and the investment made in PPF comes in EEE category.
- Your investment, interest and maturity amount are completely tax free. In this you can get tax exemption of up to Rs 1.5 lakh under 80C.
Sukanya Samriddhi Yojana
- SSY is a government-backed savings scheme, offered for daughters. With the help of this scheme you can secure your daughter’s future.
- By investing in Sukanya Samriddhi Yojana, you get interest at the rate of 8.1 percent.
- In this scheme, you can invest Rs 250 to Rs 1.5 lakh in a financial year for 15 years. These accounts can be opened for two daughters.
- In this scheme, you get tax exemption up to Rs 1.5 lakh annually under 80C.
National Pension Scheme (NPS)
- This scheme is especially for employed people, who want a good amount of money after their retirement.
- Apart from this, you will also get a fixed amount every month, whoever invests in the NPS scheme.
- According to the report, this scheme is a best option in terms of tax saving, because in this you can get tax rebate of Rs 50 thousand under 80C and 80CCD (1B).
- You can withdraw a maximum of 60 per cent of the amount from your NPS account and the fund invests 40 per cent of the amount in debt funds to give you a monthly pension.
