|Pick tax-saving investments suited to you|
|5-year Tax Saver FD, MF-Equity Linked Savings Scheme, Life Insurance-Term & Unit Linked Insurance Plan , Public Provident Fund, National Savings Certificate, Home Loan Principal Repayment , Sukanya Samridhi Yojana||Section 80C||Give yourself a raise up to ₹46,800 p.a.|
|National Pension System||Section 80C, 80CCD (1B)||Give yourself a raise up to ₹46,800+ ₹15,600 p.a.|
|Health Insurance – Family Floater||Section 80D||Give yourself a raise up to ₹23,400 p.a.*|
|Home Loan Interest for Self Occupied Property||Section 24B||Give yourself a raise up to ₹62,400 p.a.|
Tax Saving Products
Pick tax-saving investments suited to you
*Considering deduction of ₹50,000 for Senior Citizen parents and ₹25,000 for self at the highest tax slab of 31.2%.
Tax benefit of ₹46,800 is calculated on investment of ₹1,50,000 at the highest tax slab of 31.2% under Section 80CCD(1B) of Income Tax Act, 1961
Tax benefit of ₹15,600 is calculated on investment of ₹50,000 at the highest tax slab of 31.2% under Section 80C of Income Tax Act, 1961
Tax benefit of ₹62,400 is calculated on interest payment of ₹2,00,000 at the highest tax slab of 31.2% under Section 24(b) of Income Tax Act, 1961.
There are also other sections like 80G where you can make a donation to approved funds/ charitable institutions which would make you eligible for tax exemption. You can make the donations online as well.
|Investment||Returns||Lock-in period||Tax on returns|
|5-year bank Fixed Deposit||6% to 7%||5 years||Yes|
|Public Provident Fund (PPF)||7% to 8%||15 years||No|
|National Savings Certificate||7% to 8%||5 years||Yes|
|National Pension System (NPS)||8% to 10%||Till Retirement||Partially Taxable|
|ELSS Funds||15% to 18%||3 years||Partially Taxable|