Income Tax Saving Tips: These 4 schemes will give you profit and also save your income tax in 3 ways..

Most of us invest in a scheme keeping in mind the profit. But if you get income tax benefits along with profit on investing, then the benefit is double. Here know about 4 such schemes which not only give you the benefit of interest but also save your income tax in 3 ways. These schemes have been kept in the EEE category.

Know what is EEE category.
EEE means Exempt Exempt Exempt. Schemes falling in this category save tax in three ways. In this, there is no tax on the amount deposited every year, apart from this, there is no tax on the interest earned every year and the entire amount received at the time of maturity is also tax-free, that is, there is tax saving in all three - investment, interest/return and maturity. Know in which schemes you can avail this benefit-

Public Provident Fund
PPF is a better option for saving tax and investing in a safe place. Under this scheme, any investor can deposit a minimum of Rs 500 and a maximum of Rs 1.5 lakh in a year. PPF gives an annual interest of 7.1 percent. The special thing about this scheme is that the investment money, the interest received on the investment money, and the maturity amount are all tax-free.

Equity Linked Savings Scheme
Equity Linked Savings Scheme (ELSS) is also called tax saving mutual funds. In equity-linked savings schemes, you can deposit money in a lump sum or through SIP. Its lock-in is of three years. After this, you can withdraw money whenever you want or continue your investment. If you withdraw money after 3 years, you get tax benefits.

Sukanya Samriddhi Yojana
Under this scheme, the investor gets 8.2 percent interest. Under this scheme, any father can deposit from Rs 250 to Rs 1.5 lakh annually in his daughter's account. The money is deposited for 15 years and when the daughter turns 21, the entire amount including interest is returned to the investor. To invest in this, the daughter's age should be less than 10 years.

Employee Provident Plan
If you are employed, then you can also save your tax through EPF. EPF is also an EEE category scheme. Currently, 8.25 percent interest is given to it. In such a situation, you can add a good amount of money through this scheme. If you want, you can also increase your contribution through VPF.