Tax Saving Tips: If you want to save income tax then invest in these tax saving schemes before 31st March.

Tax Saving Options: If you want to invest in tax saving in the financial year 2023-24, then we are telling you about some great options.

Tax Saving Scheme: The financial year 2023-24 is going on in its last phase. If you are also thinking of investing for tax savings, then complete this work as soon as possible. Otherwise, you will not be able to get the benefit of tax exemption later for assessment year 2023-24. If you are also looking for the option of different tax saving schemes, then we are telling you about some popular tax saving schemes.

You can invest in these tax-saving schemes-

1. Invest in National Savings Certificate (NSC)-

The National Savings Certificate is a small savings scheme supported by the government. You can start investing in this scheme with Rs 1000. There is no limit to investment in this scheme. You can also invest any amount in multiples of Rs 100. By investing in NSC, you can get a rebate of Rs 1.50 lakh under Section 80C of Income Tax. At present, the government is offering a 7.70 percent interest rate on this scheme for a period of 5 years.

2. Post Office Term Deposit Scheme

Like bank FD, the post office also provides the facility of a term deposit scheme to its customers. You can avail tax exemption by investing under this scheme for 5 years. Under this scheme also, a rebate of Rs 1.50 lakh is available under Section 80C of Income Tax. Whereas if you invest in a term deposit scheme for five years, you will get the benefit of 7.50 percent interest rate.

3.ULIPs

By investing in a unit-linked plan, you will get the benefits of both insurance and investment. By investing under this scheme, you get a rebate of Rs 1.50 lakh under Section 80C of Income Tax.

4. ELSS

If you want to get the benefit of tax exemption by investing in mutual funds, then you can invest in an equity-linked savings scheme. The special thing about this scheme is that you can avail the benefit of tax exemption even in the lock-in period of only three years. By investing in ELSS also, you can get a rebate of Rs 1.50 lakh under Section 80C of Income Tax.

5. The benefit of tax exemption is available on the principal amount payment of a home loan.

If you have taken a home loan, then you can claim a rebate of Rs 1.50 lakh under Section 80C of Income Tax on the payment of the principal amount of the loan.