There is very little time left for the financial year to end. In such a situation, taxpayers started financial planning. Many schemes are being made to save tax. If you are also looking for options on where to invest your earnings and how to save money, then without wasting time you will have to plan some tips (Income Tax Saving Tips) so that there is no deduction from your salary.

To save tax, one has to invest before a fixed time. So while filing the return you will have to provide some documents as proof. You have many options like PPF, NPS, and Sukanya Samriddhi Yojana.

Know where you can invest (Income Tax Saving Tips)
PPF-
The Public Provident Fund is considered the first safe option. This is a long-term investment option. This is a very famous tax saving scheme. On which interest is being given at the rate of 7.1 percent. Under this, a rebate of Rs 1.5 lakh is available annually under Section 80C of the Income Tax Act. It has a lock-in period of 15 years.

NPS-
Tax can also be saved by investing in the government retirement scheme National Pension Scheme. In this, exemption is available under Section 80C of the Income Tax Act. Along with this, an exemption of fifty thousand rupees can also be availed under section 80CCD (1B). That means, overall under this, taxpayers can avail a rebate of Rs 2 lakh. You can start investing in this with only one thousand rupees. Any person whose age is between 18 years to 65 years. They can invest in it.

Senior Citizen Saving Scheme -
This is also a very popular scheme for taxpayers. In which investment can be made in a bank or post office (Post Office Scheme). By investing in this, you can also avail the benefit of exemption under Section 80C of the Income Tax Act. Investing in this is giving a return of 8.2 percent.

Sukanya Samriddhi Yojana-
This is known as a small scheme saving scheme. Which was started keeping the daughters in mind. Investments can be made in the name of girls from the time they are born till the age of ten years. The government revised the interest rates for this. Which has now been reduced to 8.2 percent.



Equity Linked Saving Scheme-
This is the only mutual fund in which investment can be availed of exemption under Income Tax Act 80C. There will be no tax to be paid on investing Rs 1 lakh annually in Equity Linked Savings Scheme. It is considered the best among all tax-saving options.

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