Is the tax deadline approaching? Are you looking for last-minute ways to save? In this video, we will explore some tax-saving investment options to help ease your tax burden!!
First, we’ll go over some market-linked investments like the Equity Linked Savings Scheme (ELSS). It offers tax benefits under Section 80C and has a shorter lock-in period of three years. Next, we’ll learn about the options for risk-averse investors, like the Public Provident Fund (PPF). It offers guaranteed returns and has a 15-year lock-in.
Next, you will learn about the National Pension Scheme (NPS) and how it could help in retirement planning and tax benefits under Section 80CCD(1B). But remember, NPS has a longer lock-in and requires you to buy an annuity on maturity. We’ll also cover the basics of Unit-Linked Insurance Plans (ULIPs). These provide dual benefits of insurance and investment, along with returns under Section 80C.
If you are looking for more stable options, this video will also take you through Tax-saving Fixed Deposits and National Saving Certificates (NCS). These have relatively lower risk and come with a five-year lock-in period.
Remember to consider your financial goals, risk tolerance, and liquidity needs before investing. In this way the right choices could help you save more by the end of the financial year!
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