If you want to save tax then invest money here, liability will reduce, people in old tax regime will benefit.

highlights

Rebate is available on investment in Senior Citizen Scheme.

Exemption is also available in Sukanya Samriddhi Yojana.

Investment in Public Provident Fund is also eligible for exemption.

New Delhi. To save tax in the new financial year, you can invest money in many savings schemes. In this your money will increase and tax will be saved. There are many schemes which provide benefits to investors under Section 80C of the Income Tax Act. Such schemes include Senior Citizen Saving Scheme (SCSS), Public Provident Fund (PPF) and Sukanya Samriddhi Account (SSA). Let us know about them in detail.

The first scheme is Public Provident Fund. This scheme comes with a maturity period of 15 years. You can start with an investment of Rs 500. Its maximum investment limit is Rs 1.5 lakh. However, money can be withdrawn from it even before time. When the maturity period approaches, it can be extended further for 5 years. If you want premature withdrawal then you have to wait for 5 years for this.

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Senior Citizen Savings Scheme (SCSS)
There is a lock-in period of five years in this scheme. People above 60 years of age can invest in this. You can invest minimum Rs 1000 and maximum Rs 30 lakh in this. Through this you can get tax exemption up to Rs 1.5 lakh. Currently, it is getting 8.2 percent annual interest which is reviewed every quarter.

Sukanya Samriddhi Account (SSA)
Here you can get an interest rate of 8.2 percent and start investing with a minimum of Rs 250, but the upper limit is Rs 1.5 lakh. The interest received on this is tax free. Parents of a girl below ten years of age can open this account to save for her education. He can continue to deposit for the next 15 years. Money can be withdrawn from the account when the girl turns 21.

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Tags: Business news in hindi, Small Savings Schemes, Tax saving