WebTaxability: Interest from a savings account is considered as an additional income and comes under taxable income. 8. National Savings Certificate (NSC) National Savings Certificate (NSC) is a tax-saving short-term investment plan and is available at post offices. Being a government-backed scheme, it has low risk and gives fixed returns. WebApr 15, 2024 · Tax Saving Fixed Deposits ( FD ): This FD scheme is for a tenure of 5 years and provides tax deduction of up to Rs.1.5 lakh. The rate of interest ranges between 7.00% to 8.00%, which is taxable. National Saving Certificate ( NSC ): This scheme is for a tenure of 5 years and offers a 6.80% rate of interest.
Top 10 Investment Plans In India 2024 – Forbes Advisor INDIA
WebHere are some of the avenues for tax-saving one can opt for in India. Insurance Plans: Both life and health insurance can be used to reduce one's tax burden. They can help taxpayers … WebDec 18, 2024 · The most popular tax-saving options available to individuals and HUFs in India are under Section 80C of the Income Tax Act, Section 80C includes various … chubb drawer safe
How to Save Income Tax in 2024-23 Tax Saving Guide - ET Money
Web1 day ago · Penny saved is Penny earned, Top tax saving Tips that most people utilize. This opportunity to start planning for tax saving. Here are some options to avoid over payment … WebApr 3, 2024 · Deductions under Section 80C: Section 80C of the Income Tax Act allows individuals to claim deductions up to Rs 1.5 lakh in a financial year. The investments in … WebSep 22, 2024 · The primary tax benefit of NSC is under Section 80C of the Income Tax Act. This allows investors to claim tax deduction of up to ₹1.5 lakh in a financial year offered u/s 80C. However, this ₹1.5 lakh limit of tax saving investment includes other options such as PPF, EPF, ELSS Mutual Funds along with life insurance premium payments. deserve credit card application