Income tax return is coming to a close, can get exemption from investing in these schemes

News Update, Smartphone News


New Delhi, Business Desk. The government of India extended a major relief to taxpayers by extending the deadline for filing income tax returns to June 30 as the lockdown went into effect from March 25 to prevent infection of the corona virus epidemic. Now there are only 11 more days left in this last date. Now if you want tax exemption, then you will have this last chance to invest somewhere. Today we are going to tell you about some online tax saving investment options, through which income tax exemption can be obtained under Section 80C of Income Tax Act.

Income tax exemption can also be obtained by investing in PPF. All major banks like State Bank of India, HDFC Bank, ICICI Bank provide their customers the facility to open PPF account online. Investors can transfer money from their bank account to PPF account only through online medium. Investors can generate a PPF account statement and submit it as an investment proof for tax saving. Investors can invest in a PPF account from Rs 500 to Rs 1.5 lakh in a year.

Tax Saving Bank FD

If you are thinking of saving tax at this last time, then tax saving banks can also invest in FD. It comes with a lock-in period of five years. This FD is currently offering returns ranging from 5.50 to 6 percent. Interest income received from this FD is taxable.

National Pension System (NPS)

NPS Tier-1 account can also be opened online for tax saving. Customers can open NPS account through online banking facility of their bank. Your KYC verification will be completed by the bank during the registration process. After the account is opened, investors can invest through internet banking, credit card or debit card. 

Sponsored Ads

Leave a Comment