Income Tax Saving Tips: These 4 schemes will save your income tax in 3 ways along with giving profit

Most of us invest in a scheme after seeing 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.

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 investment, interest/return and maturity. Know in which schemes you can avail this benefit-

PPF is a better option to save tax and invest 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 (ELSS) is also called tax saving mutual funds. In equity-linked saving schemes, you can deposit money in lump sum as well as through SIP. Its lock-in is for 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.

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. 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.

If you are employed, then you can also save your tax through EPF. EPF is also an EEE category scheme. At present, 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.