If you want to save tax along with investing, then there are 3 options for you. The Income Tax Department has extended the date and now you can invest till 31 July. Let’s know about these options.
The Income Tax Department has extended the deadline for many investments. Their last date was 31 March, which has now been extended till 31 July. At the same time, the government has kept the rate of interest on small investments as it is. Right now, by July 31, you have a chance to invest your money and also avoid taxing those money. So let’s know that 3 such investments will give you double benefit for you.
National Saving Certificate is the best if you do not like to take risk
If you are afraid of taking the risk, then the NSC (National Saving Certificate) scheme of the post office is the best for you. In NSC you get 6.8% interest and it has a lock-in period of 5 years. That is, if you invested 10 thousand rupees in NSC today, then after 5 years these would become Rs 13,890. You can invest up to Rs 1.5 lakh in a year and you also get tax exemption under Section 80C of the Income Tax Act.
This is a benefit scheme for senior citizens
If you are a Senior Citizen, you can also earn more from NSC if you invest in Senior Citizen Saving Scheme (SCSS). In this, you will get interest at the rate of 7.4 percent, which is given to you every quarter. However, you can invest a maximum of Rs 15 lakh in this scheme. You can also get tax rebate on up to Rs 1.5 lakh.
Equity linked saving scheme, if not afraid of risk!
If you are not afraid to take risk, then you should invest in equity linked saving scheme. There is a lockin period of 3 years. However, even after the completion of 3 years, it is not necessary that you redeem the investment. Even after this, you can let him stay invested. Even if you invest in mutual funds, you should be prepared that you will have to keep the money for 5 years for good returns.
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In order to fill the Income Tax Refund-ITR, you have to make a lot of interest on income and investments. With the help of the Income Tax Calculator, this task becomes very easy. Realizing your problem, we are providing income tax news, news related to the new income tax slab, as well as online income tax calculator. Here you can calculate the actual income tax by sharing minor details.