Minimise your tax liability through last-minute tax-saving investments. Options include ELSS, PPF, NPS, ULIPs, NSC, tax-saving fixed deposits and so on. ELSS for potential high returns in a 3-year lock-in, PPF for stability with a 15-year commitment, and NPS for dual benefits with a longer lock-in. Additionally, ULIPs for combined insurance and investment, and Tax-saving Fixed Deposits/NSC for low-risk, fixed returns. Assess your risk tolerance, investment horizon, and liquidity needs. Always consult a financial advisor for stress-free decisions. Choose wisely to maximise savings as the financial year-end approaches.
Explore ELSS for potential high returns and short lock-in period under Section 80C but be cautious of associated market risks
PPF offers stability with a fixed interest rate and tax benefits, ideal for risk-averse investors, despite its longer 15-year lock-in period
Consider NPS for dual benefits of a retirement corpus and tax savings but evaluate the longer lock-in period and mandatory annuity purchase
ULIPs provide a two-in-one solution with tax benefits and tax-free returns but be wary of high charges and returns tied to market performance
Tax-saving Fixed Deposits and NSC are low-risk alternatives with a five-year lock-in, but the interest earned is taxable, and premature withdrawals may incur penalties
As the financial year-end approaches, choose a tax-saving investment wisely based on your financial goals, risk appetite, investment horizon, and liquidity needs
Consult a financial advisor before making any investment decisions to ensure a stress-free tax season and maximise savings in April