Tax Saving Tips: The last moment to save tax has arrived, save your tax worth lakhs of rupees like this, see all the details..

The financial year 2024-25 will end soon. After which the new financial year 2025-26 will start from April 1. In such a situation, if you are planning for tax savings, then you still have some time left.

For tax saving, one can apply it in many different types of government schemes. Along with this, if you are planning for tax savings, then you have to apply for any scheme before 31 March 2025.

Save tax of lakhs by investing in these schemes.

For tax saving, you can apply in many types of schemes. After this, you can easily claim deductions by choosing the old tax regime.

At present, investments can be made in many government schemes like PPF, NPS, SSY, ELSS, and SCSS. All these schemes are very famous among investors. By investing in these schemes, you can save tax worth lakhs of rupees.

ELSS Saving Scheme

ELSS is also called Equity Linked Saving Scheme. It is a kind of equity mutual fund. By investing in this mutual fund, a good fund can be prepared for the future. Along with this, tax worth lakhs of rupees is also saved.

The lock-in period of this scheme is 3 years. Under this scheme, a tax exemption of Rs 1.5 lakh is available under Income Tax Section 80C. At the same time, there is no tax on the return of up to Rs 1 lakh received from ELSS.

PPF Saving Scheme

You get up to 7.1 percent interest in the Public Provident Fund (PPF). This is the most popular scheme among investors. In this scheme also, you will get a rebate of up to Rs 1.5 lakh under Income Tax Section 80C. However, the money of the investors remains locked in for 15 years. That is, you cannot withdraw money from this scheme before 15 years.

SSY Scheme

Sukanya Samriddhi Yojana is specially made for daughters. Under this scheme, you can open an account for daughters below 10 years of age. Under this scheme, taxpayers can save up to Rs 1.5 lakh tax. Under this scheme, you get up to 8.2 percent interest.

This scheme not only saves your tax. Along with this, you can save lakhs of rupees under this scheme.

NPS Saving Scheme

This scheme is also called the National Pension System. This scheme is specially made for retirement. Under this scheme also, you can save Rs 1.5 lakh under section 80C.

Apart from this, you get a tax exemption of Rs 50 thousand under section 80CCD (1B). At the same time, one can apply in NPS with just Rs 1000. Any Indian citizen between the age of 18 and 65 years can apply for this scheme.

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