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Income Tax Benefits: Tax benefits are available on these investments under 80C, Check complete information here

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Tax Saving Option: Looking for options to save tax, check the complete list here

Income Tax Benefits: If you also want to know about such government schemes in which you can get many tax benefits by investing, then this article is for you. Here we are going to tell you about such schemes which come under Section 80C of the Income Tax Act 1961. Here we will tell you about some small post office schemes which can be very beneficial for you.

New Delhi. Be it a working person or a business person, everyone wants to save on taxes. In such a situation, we look for such a scheme in which we will benefit and we will not be taxed. Today we will tell you about some investment schemes under 80C, which provide many tax benefits.

We are going to talk about the post office scheme. As we know the current financial year will be completed on 31st March. In such a situation, this is the right time when you should think about investment. With this you can save some tax. Here we will tell you about all those schemes which can be useful to you.

Post office schemes

Many post office schemes come under Section 80C of the Income Tax Act 1961, which are safe and also give better returns. Let us know about them in detail.

Public Provident Fund (PPF)

  • PPF is an investment that enables you to accumulate enough money to pay off with interest on maturity. PPF offers an annual compound interest rate of 7.1%.
  • Apart from this, according to Section 80C of the IT Act, PPF scheme gives three times the tax benefit.
  • You can contribute a maximum of Rs 15 lakh in this scheme. Let us tell you that this entire deposit amount is tax free.

Sukanya Samriddhi Yojana (SSY)

  • This scheme has been introduced especially for daughters. Father can open Sukanya Samriddhi Yojana account in the name of his daughter below 10 years of age and after she turns 18, the girl gets the right on that account.
  • In this scheme you are being given an interest rate of 7.6%. If you want to avail its benefit, then you have to deposit a minimum amount of Rs 250 and a maximum of Rs 1,50,000 every financial year.
  • Apart from financial savings, this scheme also offers tax exemption under Section 80C of the Income Tax Act 1961.

Senior Citizens Savings Scheme (SCSS)

  • This scheme has been introduced for senior citizens. Any person of 60 years of age or above can invest in this scheme.
  • The minimum and maximum investment limits to invest in this scheme are Rs 1,000 and Rs 15 lakh respectively.
  • When your investment matures, its tenure of five years is renewable for three years. Senior Citizens Savings Scheme offers an interest rate of 8% per annum on deposits.
  • After investing once, the interest rate remains the same. Senior citizens can claim tax deduction under Section 80C of the Income Tax Act, 1961 for investing in this scheme.
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