Top 8 tax saving investment options before March 31 deadline

By Editorji News Desk
Published on | Mar 18, 2024

Tax saving investment options

The March 31 deadline to make tax-saving investments is fast approaching. If you've opted for the old tax regime, here are some options to consider.

Equity Linked Saving Scheme (ELSS)

ELSS funds offer potential returns by investing primarily in the stock market. You can enjoy deductions of up to ₹1.5 lakh under 80C.

National Pension System (NPS)

NPS allows for retirement savings with deductions of up to ₹2 lakh. Of this ₹1.5 lakh is under 80C and additional ₹50,000 under 80CCD(1B).

Unit Linked Insurance Plan (ULIP)

ULIPs provide both insurance coverage and investment opportunities. You can avail deductions on premiums up to ₹1.5 lakh annually

Public Provident Fund (PPF)

PPF offers secure savings with a 15-year lock-in period.

Sukanya Samriddhi Yojana (SSY)

SSY focuses on securing the future of the girl child. With tax exemptions on investments, interest, and maturity proceeds.

National Savings Certificate (NSC)

NSC provides guaranteed returns with a five-year lock-in period. You can avail deductions on investments up to ₹1.5 lakh annually

Tax-Saving Fixed Deposits (FDs)

Tax-saving FDs offer guaranteed returns and tax deductions on investments up to ₹1.5 lakh annually under Section 80C

Employee Provident Fund (EPF)

EPF allows for retirement savings through contributions from both employees and employers. Enjoy deductions on contributions up to ₹1.5 lakh