Post office By investing in a savings scheme, you can get a tax exemption of up to Rs 1.5 lakh under Section 80C of Income Tax with excellent returns. The current financial year ends till 31 March. Before this, you can get tax exemption by investing. If you are preparing to invest, then we are telling you about the 5 best savings scheme of the post office. However, it is important to note that a discount of up to Rs 1.5 lakh per year is available only under the old income tax system under Section 80C. Those who choose the option of new income tax system do not get any discount of Section 80C.
Public Provident Fund (PPF)
PPF is a long -term investment option in India, which provides tax exemption under 80C. Investment can be introduced from Rs 500. You can get tax exemption under Section 80C by investing in PPF up to Rs 1.5 lakh annually. The interest rate on PPF for the January-March 2025 quarter is 7.1%.
National Savings Certificate (NSC)
NSC is a safe investment option that provides tax exemption as well as assured returns. Investors may claim deduction for investment of up to Rs 1.5 lakh annually. The scheme accepts investment starting from Rs 1,000 without any upper limit. For the January-March 2025 quarter, the NSC provides 7.7% interest, which is annually compound but is payable on maturity.
Sukanya Samriddhi Yojana (SSY)
SSY is an investment scheme launched by the government for girls, which gives great returns with tax exemption. Investors can invest between Rs 250 to Rs 1.5 lakh, with the investment of Rs 1.5 lakh is eligible for Section 80C deduction. Earned interest and maturity are both tax-free. For the January-March 2025 quarter, the SSY provides 8.2% interest, which is calculated with an annual compound.
Senior civil savings scheme (scss)
The SCSS is a retirement savings scheme supported by the government that provides tax exemption as well as better returns. You can invest in this scheme ranging from minimum Rs 1,000 to a maximum of Rs 30 lakh. There is a tax exemption on investment up to Rs 1.5 lakh under Section 80C. The interest rate on SCSS for the January-March 2025 quarter is 8.2% per year.
Post Office Time Deposit (POTD)
For the 5 -year POTD scheme, the investment of up to Rs 1.5 lakh is eligible for Section 80C deduction, although interest remains taxable. You can invest in this scheme with a minimum investment of Rs 1,000. There is no maximum limit. The interest rate on the post office time deposit (5 years) for the January-March 2025 quarter is 7.5% (interest is payable annually but is calculated on a quarterly basis).
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