Tax Saving Tips If you want to take advantage of tax exemption, do this work before March 31…
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The financial year 2023-24 will end on March 31, 2024. If you are still paying income tax as per the old tax regime and want to save more by taking advantage of the tax scheme, then this is a great opportunity for you. There are many tax saving schemes and options available to invest and save tax.
Let us tell you that even though it is Sunday, banks, banking agencies and insurance companies will open on March 30 and March 31. You can save tax in the financial year by investing in these schemes till 31st March. Know about these schemes.
Invest in National Pension System
By investing in the National Pension System, you can collect a huge fund for retirement. Tax exemption is also available by investing in NPS. To avail this rebate, a rebate of Rs 1.50 is available on investment under Section 80C.
Invest in Public Provident Fund
People have been investing in PPF account for years, which is a great way of investment. You get tax benefits by investing in it. This is considered a great long term investment. In this, investment can be made from Rs 500 to Rs 1.50 lakh. Under the scheme, all the money is locked for 15 years. On investing in screen, a rebate of Rs 1.50 lakh is available under Section 80C.
Get rebate on insurance premium
If the insurance payment is paid before March 31, then you can claim tax exemption on the premium under Section 80C. You can get a rebate of up to Rs 1.50 lakh.
tax saving FD
FD is also considered a safe option for investing. Investing in this gives excellent returns. Bank customers are given the option of a five-year tax saving FD.
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