Today is the last day of the financial year 2020-21. In such a situation, there is very little time left for tax saving investment. Before making a tax saving investment, you decide whether you want to adopt the old tax system or the new tax system. If you are adopting the old tax system, then you can save your money through investment.
Increase the scope of Provident Fund Investment
If you are a salaried person, you contribute 12% of your salary to the provident fund. This is a government scheme, so here your money is completely secure. In such a situation, you can increase your investment here.
Plan for retirement
Every salaried employee is worried about his retirement. In such a situation, if you invest in the National Pension Scheme, then the retirement will be completely secure. Along with this, you will also get exemption in tax payment under the Income Tax Act 80C and 80 CCD (1B).
Invest in a savings account
The rate of interest on saving account is taxable under section 80 TTA. But by investing here, you get a rebate of 10 thousand rupees in tax. At the same time, senior citizens also get a rebate of up to Rs 50 thousand for investing in FDs and post offices.
Investment in education is also beneficial
If you take an education loan for studies, then there are two benefits. The first advantage is that you will be able to complete your studies on time, on the other hand, you can also claim tax exemption through it. Single parents and unmarried parents can also take advantage of this. ,
