Which tax saving scheme is best?
Top 10 Best Tax Saving Investment Plans
- Tax Saving Fixed Deposit.
- Employee Provident Fund.
- National Pension Scheme.
- Health Insurance.
- Term Insurance.
- Senior Citizens Saving Scheme.
- Unit Linked Insurance Plans (ULIPs)
- Equity-linked Savings Scheme (ELSS)
Which scheme is tax free?
Listed below are tax free investments that meet a variety of needs and financial goals:
Sr No. | Best Tax Free Investments | Tax Benefits |
---|---|---|
1. | Life Insurance | Under Section 80C and Section 10(D) |
2. | PPF (Public Provident Fund) | Under Section 80C and Section 10(D) |
3. | NPS (New Pension Scheme) | Under Section 80CCD |
4. | Pension | Under Section 80CCC |
Which is the best tax-saving investment scheme in India?
As, one of the best tax-saving investments scheme National Pension Scheme help to provide tax-exemption under three different sections as mentioned below. The contribution, up to the maximum limit of Rs.1.5 lakh can be claimed for tax exemption under section 80C of IT Act.
Which is the best tax saving scheme under Section 80C?
Best Tax-Saving Investments Under Section 80C Investment Returns Lock-in Period ELSS Fund 15\%-18\% 3 years National Pension Scheme (NPS) 12\%-14\% Till Retirement Unit Linked Insurance Plan (ULIP) Returns vary from plan to plan 5 years Public Provident Fund (PPF) 7\%-8\% 15 years
When is the best time to save taxes in India?
The ideal time to plan for tax saving investments is the beginning of the financial year. This will ensure you don’t pay more taxes and save taxes in India along with year-long returns on tax saving investment. While we all aim to save taxes in India why only a few of us succeed.
What are the best ways to save money in India?
1. Life Insurance Plan 2. ELSS Funds 2. Public Provident Fund (PPF) 3. Sukanya Samridhi Yojana 4. National Savings Certificate 5. Tax-savings fixed deposit 6. Senior Citizen Savings Scheme 7. School Tuition Fees: 8.