Post Office Investment Plans: Save Up to ₹1.5 Lakh in Taxes Before March 31 – Check Eligible Schemes

With the financial year 2024-25 approaching its end, taxpayers opting for the old tax regime still have time to make tax-saving investments. The deadline to invest and claim deductions under Section 80C of the Income Tax Act, 1961 is March 31, 2025. Various Post Office Small Savings Schemes offer an opportunity to save up to ₹1.5 lakh in taxes while providing secure and profitable returns.

Top Post Office Schemes Offering Tax Benefits

The Government of India-backed Post Office Small Savings Schemes are safe and rewarding investment options. Some of the most popular schemes under Section 80C include:

1. Public Provident Fund (PPF)

• Minimum investment: ₹500 per year

• Maximum investment: ₹1.5 lakh per year

• Interest rate: 7.1% per annum

• Tax benefits: Exempt under Section 80C, with tax-free interest and maturity amount

2. Sukanya Samriddhi Yojana (SSY)

• Designed for the financial security and education of girl children

• Interest rate: 8.2% per annum

• Maximum tax deduction: ₹1.5 lakh annually under Section 80C

• Tax-free interest and maturity amount

3. National Savings Certificate (NSC)

• Fixed tenure of 5 years

• Interest rate: 7.7% per annum (compounded annually, paid at maturity)

• Eligible for ₹1.5 lakh tax exemption under Section 80C

4. Senior Citizen Savings Scheme (SCSS)

• Available for individuals aged 60 years and above

• Interest rate: 8.2% per annum

• Maximum investment: ₹30 lakh

• Principal amount eligible for tax deduction under Section 80C

5. Post Office Time Deposit (5-Year FD)

• Interest rate: 7.5% per annum

• Eligible for tax exemption under Section 80C (for 5-year deposits)

• Secure and stable investment option

Why Invest Before March 31?

To claim tax benefits for the current financial year (2024-25), investments must be made before March 31, 2025. These Post Office Schemes not only offer attractive interest rates but also help in wealth accumulation with minimal risk.

Taxpayers looking for secure, long-term savings with tax advantages should consider these government-backed options before the deadline. Stay updated on the latest financial news and investment opportunities to maximize your tax savings.