Tax Saving Scheme: If you have not planned to invest in tax saving schemes for the financial year 2022-23, then do it today itself. With this, you will not have to face trouble at the end of the financial year.
Income Tax Saving Scheme: The year 2023 has started. Along with the new year, the last quarter of the financial year 2022-2023 has started. In such a situation, those whose salary comes in the tax slab, they should start doing their tax planning (Tax Saving Scheme). Many people have this habit that they start tax planning in the last month of the financial year. You should avoid doing this. Try to start tax planning at least 3 to 4 months in advance. There are many such schemes by investing in which you get the benefit of tax exemption under different sections of income tax. Today we are going to give you information about 5 such tax saving schemes by investing in which you get the benefit of tax saving along with strong returns. Let us know about these schemes (Schemes for Tax Saving)-
1. Public Provident Fund Scheme
Public Provident Fund Scheme is a government scheme by investing in which you can accumulate a substantial fund over a period of 15 years. Under this scheme, you can open an account in a government bank or post office. This is a 100% risk free scheme in which the interest rate is transferred by the government on a quarterly basis. The government is offering 7.10 percent interest rate on this scheme. You can invest from Rs 500 to Rs 1.5 lakh in this scheme. In this, you get a rebate of Rs 1.5 lakh under Section 80C of Income Tax.
2. National Pension System
You can do better planning of your retirement by investing in National Pension System or NPA Scheme. In this, you can choose the option of both retirement fund and pension. In this, the ratio of retirement fund should not be more than 75 percent. By investing in this scheme, you get a rebate of Rs 1.5 lakh under Section 89C of Income Tax. Along with this, an additional exemption of Rs 50,000 is available under section 80CCD (E). In this case, you can get a maximum discount of Rs 2 lakh in total.
3. Post Office Term Deposit Scheme
Recently, the Central Government has announced to increase the interest rate in the Post Office Term Deposit Scheme. In this, instead of 6.70 percent, customers will now get a maximum interest rate of 7.00 percent. This rate has been implemented for the quarter from January to March. You can invest money in this scheme for a maximum of 5 years. By investing in term deposit scheme, you will get a rebate of Rs 1.5 lakh under section 80C of income tax.
4. Voluntary Provident Fund
There are many people whose tax exemption limit of Rs 1.5 lakh is not fully utilized. In such a situation, apart from PF, you can get a rebate of Rs 1.5 lakh under Section 80C of Income Tax by investing in Voluntary Provident Fund Scheme. Keep in mind that there is no investment limit in this. If you want, you can invest 100% of your basic salary in Voluntary Provident Fund. This will help you in getting a strong retirement fund. Under this scheme you get a return of 8.10%.
5. ELSS Mutual Fund
Even after investing in ELSS Mutual Fund, you get a deduction of Rs 1.5 lakh under Section 80C of Income Tax. You have to invest at least 5 years in more tax saving schemes, but in this scheme you can get tax saving benefit of up to Rs 1.5 lakh by investing 3 years. In this, you can also get a return of more than 10 percent.
